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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (74205)5/10/2010 5:16:13 PM
From: Nicholas Thompson  Read Replies (1) | Respond to of 149317
 
Keep in mind that from 2002 to 2007 hundreds of billions were pulled out of home equity often to waste on luxuries. That was a big response to the bubble making it much worse. It led to a vast overstating of the real GNP growth. I guess we are seeing the reverse of this as people slide on their mortgage payments.



To: Broken_Clock who wrote (74205)5/10/2010 7:17:56 PM
From: tejek  Read Replies (2) | Respond to of 149317
 
Lot's of talk about a recovery.

Check this:
Message 26526041

$100-$150B annually going into retail(most likely)...

Talk about smoke and mirrors.

Why? The banks can afford and its payback time.


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