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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (50125)	5/16/2009 9:36:25 PM
From: niceguy767	2 Recommendations Read Replies (2) \| Respond to of 217927

Gettin' a little out there aren't you with your link between Christianity and today's financial debacle? A little more simplistically, one could purchase a home with a single income after WWII. That changed when post war baby boomers arrived in the work force complemented by the major social change around the role of the female in the work place. By the 80's, two income families became the norm and with that double the consumption power per family resulting in inflation in housing prices and consumables in general. Eventually expanding consumption spending began to exceed even the 2 income norm but the consumption habit had become entrenched. Next came maxing out credit cards, GMAC credit financing for more car than was needed and credit lines backed by real estate. Then came the layoffs resulting in a growing number of single income families again and the corresponding credit crisis. Unfortunately many families who were maxed out on 2 incomes were now required to get by on 1 income. With every passing month this unfortunate trend worsens by 600k job losses per month. In a nutshell therein exists the US problem. Just not an easy problem to resolve, this loss of consumption income every month and its negative impact on the housing market. What I don't get is how throwing gazillions at Wall St. is addressing this central Main St. problem in any way. It's Main St. that needs the gazillions to ease the pain, not Wall St.