The Cracking Point on the Real Estate Bubble

Current estimates are that the national average price of heating oil will be $4.35 a gallon this Fall and Winter, with a typical house easily using 1200- 1500 gallons through the cold months in the Northeast and Midwest. In the past people could get credit for one year based on their equity. However, now in the northern states, the number of people qualified to get a loan to heat their homes in the winter is collapsing. This is on top of the home mortgage and real estate bubble collapse, and 3 million households ready to lose their homes.

Lyndon LaRouche pointed to the fact that the cracking point politically will be when people, especially in the northern states, have to sign contracts for heating oil.
LaRouche stressed that you have to look beyond "this week" into coming weeks. "The guy in streets doesn't think ahead. But in the coming weeks there will be a qualitative change in the perceived situation. This is going to hit hard in October."
The soft parade has now begun for the collapse of people's economics and the USA economy, unless we get the Homeowner and bank Protection Act.