Rise and fall of gas prices
The meteoric rise of gas prices to more than $3 per gallon in the U.S. (and over $6 per gallon in many other countries) brought the world to its knees. Every industry was negatively impacted by the higher costs of transporting goods and services. People were forced into situations where they had to choose whether to fuel their cars to get to work or to buy food. Dining out became even more of a luxury for most thanks to the hole that was dug by gas prices (ruining many restaurant businesses). Ultimately these gas prices broke the bank for many people and companies before they finally fell like a stone. The only good thing to come out of this experiment in demand destruction was that the world realized the desperate need for energy alternatives. Maybe we'll finally start working on alternative fuels with a newly found intensity.

Struggling Americans
If you're not struggling, I'm sure someone in your family or some of your close friends are struggling thanks to the financial mess of 2008. Job losses, stock price plummets, 401(k)s turning into 201(k)s, homes losing value, and commodity prices tanking, left people with nowhere to turn for safety or a possible route out of this dark, dismal financial reality. Many people were already so deeply in debt before the crisis started, they couldn't even borrow money to make it through this financial storm, especially as their primary asset -- their home -- continued to fall in value. Few Americans will make it through this storm unscathed.

Worsening decline in home values
Each month we wait for the reports on home prices, hoping to see some sign that the monthly price drop is finally coming to an end. Yet the bottom of this spiral appears to be nowhere in sight. While the crisis started with home purchases financed by subprime mortgages, it's blossomed into a full-blown crisis impacting everyone who owns a home. You could be someone who bought your home with 20% down or more, used a prime fixed-rate mortgage and still be facing an asset that is worth less than what you paid for that home -- or worse yet -- valued below the amount you owe to your bank for that home. Even if you're not in that boat yet, you could be soon if this downward price spiral doesn't bottom out soon.

So now it's up to you to decide which of these stories is the Money Story of the Year.

Lita Epstein has written more than 25 books, including Surviving a Layoff: A Week-by-Week Guide to Getting Your Life Back Together and the Complete Idiot's Guide to Value Investing.

Share the reasons for your Money Story of the Year pick in the comments, or let us know about any contenders we overlooked. Also be sure to see the rest of the Best & Worst in Money 2008.