February 5, 2007 at 4:20 PM #8341blahblahblahParticipant
Here’s a good article over at MSN Money about how the housing market covered up fundamental weaknesses in our economy for the last five years or so. One of the scary stats in this is that, directly or indirectly, housing was responsible for 40% of job creation in that period…February 6, 2007 at 1:19 PM #44849PerryChaseParticipant
Thanks for the article. I agree very much that housing has masked a weak economy. As a country, we’ve been living on borrowed time.
1. Euphoria and capital spending based on the Internet.
2. Capital spending and employment based on Y2K.
3. Dot com bubble.
4. Low interest rates.
5. Real estate bubble.
6. Massive government spending on security and war.
I’m afraid that we’re running out of options to prop up the economy.February 6, 2007 at 1:38 PM #448514plexownerParticipant
Yes, and now we are out of bubbles to inflate so what do we do?
We fall back on the age-old, time-tested, works-every-time solution to all economic problems:
WAR, WAR and more WAR!!!!
Coming soon to an expanded theatre somewhere in the Middle East – the neo-con’s next adventure in the sand – will it be Iran or Syria???
Stay tuned campers …February 6, 2007 at 1:47 PM #44853crParticipant
So would you say NOW is a really good time to take out a HELOC buy a couple new Luxury cars, take a vacation, buy a 2nd and 3rd house, refinance those, all with interest only loans?
Or not…February 6, 2007 at 8:06 PM #44874hipmattParticipant
Dude, I just refied, bought a new pebble tech pool, and a new Hummer on 22’s bro, I so badass!!! Living the dream!!
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