The next bump in the road for the housing market is sloshing around in your gas tank.

It looks like President Bush is going to sit on the sidelines as gas prices continue to soar. The Prez’s position is that he wants to make a dent in U.S. oil consumption before leaving office. The first step in the process seems to be to let the price of gas rise to whatever the consumer is willing able to pay charge. With oil companies reporting record profits over the last few years, it’s seems like it’s another case of squeezing all the juice possible out of the average Joe or Judy.

Oil companies aren’t the only ones profiting and squeezing the consumer these days. Big banks continue their commitment to fleece the average citizen. Banks and oil companies remind me of tobacco companies – paying lip service to your health while they continue to dream up ways to suck the life out of you.

The housing market is going to eventually feel the effect of all of this. As gas prices continue to rise, so does credit card debt – up over 200% in April. When gas hits $4 or $5 a gallon this year and the commuters of America finally hit the wall with credit card debt, there will be a ripple through the housing and mortgage markets.

The housing recovery, initially forecast to begin this summer, is now being pushed out to Fall or early next year. That prediction is based on no bumps in the road. But, rising gas prices and escalating credit card use are just the type of small bump to throw this jalopy onto the side of the road.

I caught a few words on one of the investment shows yesterday where the panelists were complaining about the fact that the only thing companies are interested in are profits – duhhhh. There seems to be no real sense of social responsibility anymore. Can you imagine B of A, Citi Corp or any of the other big players really being committed to helping educate consumers on responsible debt or fiscal responsibility? Not when they can up interest payments as consumers go deeper in debt.

Can you imagine Chevron, headquartered here in San Ramon, really being committed to the consumer using less of their product? How does the average consumer seem to handle this – don’t get me started on that one!