Santorum says gasoline prices caused recession (user search)
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  Santorum says gasoline prices caused recession (search mode)
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Author Topic: Santorum says gasoline prices caused recession  (Read 708 times)
Yelnoc
Junior Chimp
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Posts: 7,182
United States


« on: March 04, 2012, 08:53:27 PM »
Actually, didn't the price shock happen immediately before the bubble burst?
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Yelnoc
Junior Chimp
*****
Posts: 7,182
United States


« Reply #1 on: March 04, 2012, 09:05:40 PM »
Quote from: Senator North Carolina Yankee on March 04, 2012, 08:57:40 PM
Quote from: Yelnoc on March 04, 2012, 08:53:27 PM
Actually, didn't the price shock happen immediately before the bubble burst?

Gas prices peaked in August of 2008. Housing began its collapse back in 2006 and the credit crunch began in mid 2007, followed by the actually start of the recession in December 2007. The Gas price peak did precede the collapse of Lehman which people seem to equate with the bubble bursting. That was more of a realization point. A realization of just how screwed we were economically.

Right, that's what I was thinking of.
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