The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: Neeka who wrote (3350)	12/17/2008 3:51:56 AM
From: DuckTapeSunroof	Read Replies (2) of 103300

US personal savings rate: Total consumer debt: Funny Money: U.S. GDP Growth Net of Mortgage Withdrawals Nice chart from John Mauldin in his weekend missive showing U.S. GDP growth over the last decade with and without mortgage equity withdrawals: (GDP averaged only around 1%, or a bit less, over the Bush years, once you factor out the effects of people withdrawing equity from their homes through mortgage equity withdrawals....) ...Digging a bit deeper into Net Mortgage Equity Withdrawal "MEW", we see just how much U.S. homeowners tapped into their homes (think ATM machines) when values were rocketing. The ability of homeowners to monetize the capital appreciation of their homes offset the stagnant wages we have seen over the past 7-8 years. Unfortunately, MEW has now come to a screeching halt (YTD 2008 in the chart below is through Q2): US Corporate Taxes:

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