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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: re3 who wrote (92466)10/21/2007 7:27:28 AM
From: Smiling BobRead Replies (1) of 306849
 
It's the chicken/egg issue.

If Americans cut consumption, do foreign manufacturers lose enough sales to affect or cut growth within their borders which in turn depresses their own economies?

I believe that the majority of worldwide growth was spurred by the home ATM here and other developed countries to a lesser degree. America has traditionally been the number one consumer of goods produced and the number one borrower.

It's not a coincidence that these markets have taken off in line with the US housing markets. As that well has now run dry, growth overseas will be stymied in just as sharp a manner as the housing collapse.

The breadth of the housing collapse took most "experts" by surprise. Expect the same for the reverberations.
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