
Gas Will Be $5/Gallon, Consumer Spending Is Dead, And Housing Will Fall 20% More - lotusleaf1987
http://www.businessinsider.com/mauldin-2010-10
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dnautics
A crash in the future is very likely, I mean consider the fact that the stock
market has risen so much in the last two years - but ask yourself - what has
changed? Employment is still low, national productivity has not gone up. If
there's an uptick in consumer spending, it's probably mostly because of
inflationary pressure by the money-suppliers - not reflecting real productive
growth. Borrowing to spend's gotta eventually amortize itself.

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cubicle67
US$5/US Gallon == US$1.32/l

We (Australia) are currently paying only slightly less than that at the
moment, but have in the past paid much more. I'm pretty sure in the UK they
pay _way_ more, and in Europe slightly less than the UK, but still over
US%/gallon

I guess my point is why is everyone in the US so worried about fuel prices
when you've had it so cheap for so long. The rest of us manage ok, why do you
think you won't as well?

~~~
Mz
_The rest of us manage ok, why do you think you won't as well?_

I lived in Germany where gas is lots more expensive. The cars are smaller and
more fuel efficient (we brought a truck to Germany and had enormous difficulty
finding parking for it). There is better public transit. And communities are
more walkable. In most of the US, it is extremely to get around without a car
and commutes to work are typically pretty long. I currently live without a car
and kind of informally hitch-hike to work because it is 2.25 miles away and
there is no bus service from here to there. So I accept offers of rides when
people stop and offer (which is more often than not).

A lot of the things that would make a neighborhood more walkable have been
made essentially illegal to do. Most urban planning rules and conventions are
car-oriented and actively encourage the creation of sprawl, which is not
conducive to creating new walkable neighborhoods. Older neighborhoods that are
more walkable are often extremely expensive because it is a highly prized
quality and no longer something we can create. "New Urbanist" architects and
builders who have tried to build more walkable neighborhoods have found that
have to jump through a lot of hoops to get such plans approved.

I've seen some photos of people on the street in an Australian city and most
American cities just aren't that pedestrian-friendly. So, yeah, Americans have
good reason to be freaking out.

