HERE COMES THE TRICKLE DOWN RECESSION

(03/18/2008)

COMMENT By Bob Weaver

While the Bush White House gives hopeful statements about the USA economy, most experts agree hard times are coming.

The pinch on bank accounts because of high gasoline prices is only part of the pain.

The trickle down effect is coming.

Climbing diesel prices above $4 a gallon will continue to jerk food and hard item prices upward, an inflationary spiral also connected to the not yet proclaimed national recession.

Perhaps there is some relief in country families raising more produce in their garden patches.

Truck drivers, especially independent contractors, are especially affected by the increasing price of oil, with big rigs getting poor mileage with their 200-gallon tanks.

West Virginia ranks in the top eight highest states for diesel prices, the average already at $4.13 per gallon.

There are genuine concerns people have about their 401Ks, and the ability to pay for the high cost of insurance, not to mention making loan payments.


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