Wednesday, February 27, 2008

Lend Me Your Ears

When I read over at MagicLoans that of the survey drivers in the UK 50 per cent of motorists put fuel in their vehicle at least once a week and they spend on average at least £30 a week on fuel (for US readers, at today's exchange rate that would be just shy of $60) I was not too shocked as I remember how much it cost to fill the tank of the tiny little Ford Focus we 'hired' to drive up to the Isle of Skye when we visited Scotland a few years ago.

I am curious with the looming credit crisis in England and across most of the United States how many people are going to have to get Secured Loans just in order to pay to fuel up their cars to get to work? US Fed Chairman Ben Bernanke has hinted that in the US more rate cuts are on the horizon. There has already been a noticeable increase in the ridership of the commuter train I take to work each morning, can only imagine what will happen when we get to $4 or $5 dollar gas.

We all better start hoping the engineers at Tesla or Toyota get the bugs worked out of that electric car sooner rather than later other wise Edward G. Robinson's character had the right idea in 'Soylent Green'.

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