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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (70564)	9/28/2006 4:07:32 PM
From: russwinter	Read Replies (1) of 110194

On California from another source: signonsandiego.com Michael Pento, a senior market strategist for Delta Global Advisors, an investment firm in Huntington Beach, said a slowdown in construction is needed, since the creation of new houses has outstripped population growth nationwide. “It will take years to work out all the excess supply of homes, especially since home builders are still adding fuel to the fire,” Pento said. And: Ratcliff predicts that nearly 100,000 construction workers will lose their jobs over the next 2½ years, with the total number of workers dropping from 926,000 during the second quarter of 2006 to 827,000 in the final quarter of 2008. How does a 40% drop in activity translate into about 10% sector job loss?

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