Friday, March 23, 2012

Soaring Oil Prices Risk Recession

From the Financial Times: 

Soaring oil prices risk recession

But how many gallons of gas do folks use per month? And consider that interest rates have dropped considerably so people may have lower monthly house mortgage payments, equity lines of credit, and credit card bills.  Many cars have been sold at near 0% loans, and folks are buying cars with higher fuel efficiency.

So, will higher oil prices impact people now the same way as in 2008?

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