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Politics : Foreign Affairs Discussion Group
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To: jttmab who wrote (199611)8/27/2006 3:14:19 PM
From: geode00  Read Replies (1) of 281500
 
Maybe they'll start subdividing those 10K --- apparently that's puny now in that market, more like 30K --- into condos for baby busters and their empty nest parents.

The problem I see in the economy is the amount of debt, both public and private, Americans carry. I think last year was the first year ever --- I wasn't listening to this so I can't remember the timeframe --- that Americans spent more than they produced.

Trade deficits, budget deficits....at some point the credit pile simply has to stop growing. People were spending their equity -- both real and psychic--- that they 'had' in their homes. Now that the bubble has apparently sprung a leak, consumers will start pulling back and who knows what that will lead to in the next few years.
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