Korean Job Discussion Forums

[luvnpeas]

The two big economic stories these days are high gas prices and the subprime mortgage collapse. Obviously, the only beneficiaries of subprime lending are people with bad credit. The poor are the ones getting really nailed by foreclosures these days (makes entry-level homes more affordable for the lower-middle class with good credit, like, um, ESL teachers!), although no income level has been immune.

Here's an interesting map from the New York Times. It shows where people spend the highest percentage of their income on gas. Obviously, people spend less on gas in big cities with ample public transportation and many stores within walking distance. The rural areas--the poor--get screwed again.



The libertarian in me isn't that sympathetic to people who chose to borrow more than they could afford, and then didn't get to keep the house they never should have bought. But gas prices are pretty much out of everyone's control....