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

To: patron_anejo_por_favor who wrote (260599)	7/13/2010 11:34:47 PM
From: tejek	Respond to of 306849

Well, Greece is a lot smaller. And hopefully we're not using it as our benchmark!!!! There were a lot of big debts incurred in 1H2010, so it is important to not look back too far in the data. Not making a political statement with that, just objective..... I am well aware of how much debt was incurred in 2010. I don't think anyone is happy about that development. However, we had plenty of warning things were going badly well before 2010 and very few objected. I mean......how many countries can spend like drunken sailors while cutting their revenue stream? Not many. And yet very few objected when that crap was going down. And when the party ended with a crash in 2008, we were told by innumerable economists as well as the new WH, that we would have to spend to save our asses. And that's what happened in 2009 and 2010. And its working....the banks, AIG and the auto companies are paying back the monies they borrowed. The feds are making a profit on all the stock that was issued to them by C, BAC etc. And its expected they will make out okay with GM's IPO later this year.The economy is starting to turn. But the economic mess didn't happen overnite and its not going to end overnite either. Americans fukked up......and there is a price to be paid for that fukk up. It will be a while before things are good again. And whining doesn't make the time go by any faster. JMHO.