[lbo-talk] Peak Oil or Oil Bubble?

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Thu Apr 14 12:11:22 PDT 2005



> IMHO, The lower middle class goes out of their way, and
> into debt, to own an SUV. Think pimpmobile in the ghetto.

More tut-tut'ing of peoples choices, but I think what you'll find is that these people own the largest group of older, less efficient, broken down (maintainence deferred, just like with healthcare), polluting cars and that they depend on them to get to work and child care. When you don't have all the money you want, the first things to go are things like maintenance, smog checks, registration, insurance ... it's a spiral, but there you have it.

Squeezing these people can't help.



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