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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: RetiredNow who wrote (260989)7/15/2010 12:31:45 PM
From: tejekRead Replies (2) of 306849
 
Disappointing job reports, weakness in housing and consumer spending and problems in world financial markets have raised concerns about the U.S. economy stalling out later this year. Now some economists are starting to talk about an even worse fate: a prolonged period of very weak growth, a so-called "lost decade."

The danger is very serious. I am well aware of that. I have feared this mess since 2000. We really fukked up. I don't understand why people think this is business as usual. We were on the verge of a Depression. Bush/Cheney did nearly everything wrong economically and that went on for 8 years. Have you looked closely at Obama lately.........he's aged 5 years in one.

When I was a kid, there was a biblical movie on tv.....about Moses or someone like that. And all the people were dancing crazily around a gold idol. They were worshipping the gold and it was making them crazy. And that's how I see what the Bush years were like. Even normally staid bankers went crazy......which caused one of the largest banks in the country, based here in the city where I live, to go up belly up....and we're still paying the price for that one. It was capitalism at its worst. And now its the 'day after' and we are still feeling the effects of the hangover.

Having said all that, we will recover. The current economic recovery will be led by business, supported by consumers later, take longer than usual and will be missed by the majority of investors because everyone is still too afraid.
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