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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: valueminded who wrote (55253)8/23/2006 2:36:00 PM
From: regli  Read Replies (1) of 116555
 
This says it all (from Roubini's blog):

rgemonitor.com
"As reported by the WSJ today: In his 40 years as a home builder, Mr. Toll says, he has never seen a slump unfold like the current one. "I've never seen a downturn in housing without a downturn in employment or... some macroeconomic nasty condition that took housing down along with other elements of the economy," he says. "This time, you've got low unemployment, you've got job creation, you've got a stable stock market and relatively low interest rates."
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