Survey Says……..

This blogger wants your opinion! 2008. What will our economy look like????

My feelings on next years US economy are that by April-May, we are going to be in a downward spiral. We may not be in a full blown recession, but close..
Here is why:

1. Oil Prices. OPEC has always controlled things during my lifetime, and we do not seem to have any leverage. {Unless we all decide to not use our cars for a month or so} Today’s per barrel prices are hovering around $80 or so. We won’t be seeing $50 a barrel pricing ever again. This issue will continue to plague every consumer and small business. Already, predictions of $3.50-$4.00 per gallon of gasoline is being talked about by major economists, for next spring. Read 

2. The Housing Bubble-Burst. If you are a homeowner trying to sell your house, your patience is probably wearing out. Homes are sitting. And sitting…It has been a buyers market all year, and that will not be changing soon.Read

3. Consumer Debt. I know the feeling…How many of you pay cash for gasoline? These gas station franchises and dealers were really smart 15 years ago or so, when they made is easy to pay with our credit cards. "Pay at the Pump", eh? That contributes to huge consumer debt. After all, isn’t it much less painful to pay for a $35 fill up with your trusty credit card? What if you still had to walk into the gas station, and pay cash for gas? Debt is increasing, and will catch up to all of us. Read

I am interested to know your economic prediction for 2008. Where will our economy be in 08?
You do not need to be an economist to chime in here.
Just let me know what your feelings are, and why.
Thank you. The comment area is now open!