Posted by paul on April 20, 2008 at 09:33:34 from (66.44.132.218):
In Reply to: All fueled up posted by Gary in TX on April 20, 2008 at 06:19:59:
Govt better not 'do' anything about it!
It's the housing blow up, folks who bought too big a house & over inflated housing costs on money they couldn't afford to repay.
This has sunk our ecconomy, dollar is now very low compared to other currencies in the world.
So, _anything_ we import is going to cost a whole lot.
And other countries have not seen the same rise in proce that we have. So their purchasing power is much better than ours.
They can afford to buy more grains, more crude oil, more steel.....
We can't.
It was greedy people in the housing market that had the most to do with it. Wrecked the ecconomy for all of us.
'Doing something' about high oil prices will not fix this problem, not one thing. It would only make matters worse.
We need to fix our ecconomy, and prices will take care of themselves. And no matter how we do it, it will involve some pain. Hope the govt has good policies that make it as brief as possible, and that they don't try to overcorrect fuel prices, etc.
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