Another Lesson in Economics

Airfares are dropping. Gasoline prices are dropping. Instead of thanking your lucky stars for answered prayers, thank yourselves.

These happy reversals of long-standing trends are the result of a very basic factor of economics: lack of demand.

When gas prices began rising sharply we parked our vehicles and took up the mantra of environmentalist everywhere by riding public transportation. Let’s don’t blow it by returning to our old glutinous ways.

I would like to be altruistic and say we did it to save the environment, but no, we did it to save our pocketbooks.

Whatever the reason, we need to improve this trend and take the environmental reasons to heart. And if we continue to save a little money in the process, so much the better.

Of course now airlines are complaining about the lack of revenue, but please keep in mind they are crying for themselves, not for us and definitely not for the environment.

So, while we are still high on this happy news, can home mortgage rates be far behind?