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Sunday, May 20, 2007

Housing slump continues,

but the debunkers told me that we were getting out. Guess not. Things are getting worse as there is no housing market recovery. In fact, we are heading into a recession just as I predicted.

The high price of gas will make houses far away from the city very unattractive. People will try to find places close to work. They will have less money to buy items as all the money used to pay for gasoline is not around to pay for other things. As food and fuel go up in price there will be belt tightening. Think of all the corn used to produce ethanol. This causes corn prices to go up as well as milk, eggs, meat, etc.

I predicted in Jan 2007 when gasoline was $1.87 a gallon that by mid year we would be paying over $3/gal gas. The debunkers laughed and said all I predict is gloom and doom. Now in the middle of the month of May, what do they say?

"It's just a refiner that closed down, it will be back on line - by July we will be swimming in gas it will go under $2/gal. You will see..."

REALLY?

Sorry debunkers as usual, you are wrong. I stand by my prediction of higher gas prices.

My challenge to the debunkers is to find one gasoline station in the entire United States in the month of July that is selling gas for less than $3/gal. Go to it!

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