Quote:
Originally Posted by PBzeer
I don't think anyone is saying things are "peachy". At least from what I'm reading. And while I'm in no way an economist, it doesn't take a rocket scientist to understand that when prices spiral up, as they did in real estate, that sooner or later they have to drop back down to a more realistic number. To assume it won't cause dislocation and discomfort would be naive. But to think the world is going to end, is going off the deep end in the other direction.
|
Well, I have to respectfully disagree. The mortgage market as we know it has ended. It's been federalized.
2000 banks are on the edge of failing and would have failed already had the Treasury not changed the banking rules to keep them afloat. These two areas alone are enough to bring America into a prolong recession. Looking outward, one of our allies was invaded and all we could do is pound on the proverbial table. America has neither the money, the troops or enough friends in the world to defend our beliefs.
Things are changing John, where we disagree is that I believe that stating the fact is not being an alarmist.
It's more like "Welcome to our new reality".