[My Opinion]

Here is an article about how the economic situation is causing high end consumers to pull back on spending, which may contribute to a recession.

The super rich can party forever, but for the merely well-to-do, troubles in real estate and Wall Street can mean belt tightening.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aS8qyeqQhtXk

[My Opinion]

Here is an article about how the economic situation is causing high end consumers to pull back on spending, which may contribute to a recession.

The super rich can party forever, but for the merely well-to-do, troubles in real estate and Wall Street can mean belt tightening.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aS8qyeqQhtXk

[My Opinion]

Here is an article about how the economic situation is causing high end consumers to pull back on spending, which may contribute to a recession.

The super rich can party forever, but for the merely well-to-do, troubles in real estate and Wall Street can mean belt tightening.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aS8qyeqQhtXk

[My Opinion]

Here is an article about how the economic situation is causing high end consumers to pull back on spending, which may contribute to a recession.

The super rich can party forever, but for the merely well-to-do, troubles in real estate and Wall Street can mean belt tightening.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aS8qyeqQhtXk

[My Opinion]

Here is an article about how the economic situation is causing high end consumers to pull back on spending, which may contribute to a recession.

The super rich can party forever, but for the merely well-to-do, troubles in real estate and Wall Street can mean belt tightening.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aS8qyeqQhtXk

[My Opinion]

This article by economist James K. Galbraith also discusses that August 17th turnaround by Bernanke.

His take is that Wall Street likes volatility, so the system is built for credit bubbles. The reason for creating a large pool of high risk (such as all the shaky loans) is so that the Fed is blackmailed into coming to the rescue if there is an implosion.

http://www.motherjones.com/news/feature/2007/08/great-american-mortgage-crisis.html

[My Opinion]

CityDweller, I found this video helpful. You may not agree with the politics of it (which mostly come in at the end), but I thought it did a good job of explaining how money is created and why that requires unending expansion. (I had read about how this work, but it didn’t make complete sense until I saw the video.)

http://video.google.com/videoplay?docid=-9050474362583451279&q=money+as+debt

I got the link from one of the housing blogs, but I can’t remember which one (perhaps it was even from my first love, Piddington’s). Unfortunately, I don’t have time to research it this morning so as to give credit where credit is due.

[My Opinion]

CityDweller, I found this video helpful. You may not agree with the politics of it (which mostly come in at the end), but I thought it did a good job of explaining how money is created and why that requires unending expansion. (I had read about how this work, but it didn’t make complete sense until I saw the video.)

http://video.google.com/videoplay?docid=-9050474362583451279&q=money+as+debt

I got the link from one of the housing blogs, but I can’t remember which one (perhaps it was even from my first love, Piddington’s). Unfortunately, I don’t have time to research it this morning so as to give credit where credit is due.

[My Opinion]

CityDweller, I found this video helpful. You may not agree with the politics of it (which mostly come in at the end), but I thought it did a good job of explaining how money is created and why that requires unending expansion. (I had read about how this work, but it didn’t make complete sense until I saw the video.)

http://video.google.com/videoplay?docid=-9050474362583451279&q=money+as+debt

I got the link from one of the housing blogs, but I can’t remember which one (perhaps it was even from my first love, Piddington’s). Unfortunately, I don’t have time to research it this morning so as to give credit where credit is due.

[Author]

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