As gasoline and oil prices go crazy across the United States and with Oil at about $130 dollars a barrel at this writing and no end it in site the time has come to ask "what is going on here"
On the question of gasoline prices MeasuredUp is going to promote more reviews on gasoline prices, stations and money saving advice that our readers can share.
For some time we have asked ourselves "how has our economy not imploded with mounting debt?"
The answer is now clear. Credit, second mortgages and rising houses values all masked the issue and allowed many Americans to avoid the crunch and economic disaster.
Now all this has come to an end with the housing fiasco and lack of refinancing, credit or 2nd mortgages.
So why does the price of Gas tip the equation you ask?
Because the American Consumer typically has three choices, 1. Buy food. 2. Pay the mortgage and 3. Buy gas.
For years the mortgage issue was covered with rising prices and so much so that it also could pay for food and gas.
But with home prices going down and credit drying up all of a sudden the price of gas is hurting as it goes up and so do associated food costs.
Americans wages simply are not going up as fast as the prices of gasoline and food and with them already in debt this is a real disaster with no end in site as we continue to fight and fund to ongoing wars, refuse to raise taxes and put off paying our rising debt to foreign countries.
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