<a href="http://firedoglake.com/2008/03/08/how-this-economy-is-going-to-play-out/" target="_blank"><span style="text-decoration:underline;">How this economy is going to play out,</span></a> by Ian Welsh. Excerpt:<br><br><i>The old, oil based, suburban sprawl economy based on forever rising house prices, on easy credit, on subdivision after subdivision--on running up credit cards and on leverage piled on leverage piled on arbitrage, is in the middle of cracking up, spectacularly. While there will be a short term reduction in the price of oil, in the long term oil is still going up and the America of the sprawl economy; the economic geography of America, looks entirely different at $4/gallon gasoline than it does at $2/gallon gasoline. Huge swathes of exurbia and suburbia become simply economically unviable. Zombie Burbs.</i><br><br>
An interesting read to me, as someone not well versed at global economics. It's worrisome to contemplate, but right now moving to the city and finding a community and lifestyle that supports public transportation seems desirable. Or a higher paying salary.
An interesting read to me, as someone not well versed at global economics. It's worrisome to contemplate, but right now moving to the city and finding a community and lifestyle that supports public transportation seems desirable. Or a higher paying salary.
