The Mutually Reinforcing Housing and Oil Shock

The twin shocks from housing and oil have become mutually reinforcing, potentially turning what may be a mild recession into something more threatening. Even those economists who think the U.S. might dodge a recession are concerned.

Crazy prices at the pump are pushing even the survivors over the edge. "They're asking, 'Do I put gas in my car or do I pay this utility bill or do I pay the mortgage?'

Read this BusinessWeek article.