Friday, October 10, 2008


Has a US president ever appeared to be so weak, so useless, so unneeded, and so uninterested in a crisis as Bush does right now? I can't recall one.


I still think my theory of the impact of rising oil prices is a good one. What popped the housing bubble? It was a bubble, sure, but it was popped by the oil bubble. From that came all the decline and lock-up of the credit markets, etc. The fundamentals of just living became significantly more expensive, and energy is the one place you can't cut back on -- you have to have so much gas a week, and so much food, and so much heat or A/C. You can't live without these. And so the difference came out of mortgage payments.

At least, it's worth mentioning.


Michael Ejercito said...

The oil bubble popped.

Anonymous said...

The peak of the housing bubble was 3 years ago. I started rapid deflation a year ago. Can't blame that on oil. Blame it on greedy bastards who thought they could game the system forever.

Anonymous said...

I can remember Jimmy Carter and the hostage crisis in the middle of the energy crisis.
He was also lame, unnecessary, and impotent.