Not To Ruin Your Weekend, But…
Jul 29th, 2006 at 4:00 pm by Susie
It really could be the perfect storm hitting the economy. The housing market, combined with extravagant federal government spending, has really kept the economy going these past few years. It’s done so both by providing a lot of construction jobs and also by providing people with easy credit as they pull equity out of their homes. With the construction market slowing down there are going to be a lot of out of work skilled workers whose skills won’t necessarily get them jobs in other sectors. With stagnant or falling home prices people won’t have that easy credit anymore. And, with ARMs and no interest loans set to reset in a massive wave soon…
WHEEEEEEEEE
Let’s see: mainstream pundits wrong on the housing bubble, the economy, the war, the WMDs, the integrity of the Bush administration, the pulse of the electorate…
Maybe we should make this simpler. Is there anything they were right about?
Oh yeah, the need for another bloggers’ ethics committee.
