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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (176681)	1/13/2009 1:21:17 AM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 306849

their reasons for the housing bubble was that Bush needed an economic story to tell and the jobs market literally collapsed in this decade. The housing bubble was a sort of hail mary on the economy. In this decade the US economy only created 375K jobs per year for the entire Bush term. Clinton was creating that every MONTH. This is way under what is required to sustain population growth. Rather than address the root cause of the jobs crisis, which was offshoring, an offshoot of globalization which is untouchable right wing dogma, Bush needed to deflect attention to the "shiny object over there" which was the housing bubble. Additionally, while this economy was creating only 15% of the jobs we need to sustain, wages were also declining or flat. It was a major blow and globalization is the culprit. It will be interesting to see what Obama does. One huge problem is that if the US wants to, or has to compete with 3rd world nation for jobs, we are going to have to change our tax structure including social security dramatically. Thats a third rail nobody wants to touch.