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Politics : View from the Center and Left
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To: JohnM who wrote (35775)3/26/2007 2:45:43 PM
From: epicure  Read Replies (3) of 541941
 
At this point, I don't see how it can't be really bad. Scenario 1, we get a recession- which torpedos the weak hands in the housing markets because they lose their jobs. Scenario 2- we get inflation and growth, and these same folks get torpedoed because they can't keep up with their adjustable mortgages.

I don't imagine we can avoid a recession AND avoid inflation. I actually think we're likely to see stagflation again, and that will really hurt.
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