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Are we headed for a depression?

Discussion in 'Financial Cents' started by Jonas Parker, Jan 25, 2008.

  1. Jonas Parker

    Jonas Parker Hooligan

    Chuck Butler at The Daily Pfennig has this to say about our economy:

    ...And then, the latest housing data. Existing home sales fell further than expected in December. Uh-Oh! Not even falling home prices could help sales. You know you're in trouble when you can't give stuff away! With December's numbers in the books, the tally for 2007 was done. And it turns out that 2007 was the worst year in decades for home sales!

    The MarketWatch people had this to say, "The median sales price of an existing single-family home fell for the first time in the 40-year history of the survey, dropping 1.8%. Although no hard data are available, most economists believe median home prices hadn't fallen since the Great Depression of the 1930s."...

    Read all the good news (?) here: http://www.dailyreckoning.com/Writers/Butler/Articles/012508.html
  2. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    The time is almost ripe for another Democrat to come along and "save" the world.

    Oh, I can nearly weep if I didn't see this coming a dozen years ago.

    Who needs a depression when most of the jobs are overseas already, when both heads of households work at middle income jobs just to place food on the table and fuel the suburban gas hog? Who needs a depression when the only two income classes are equally poor and elite? Where is the depression evident in a society that cannot break away from the cycle of big government mandating policy for the governed masses?

    The New Deal is going to get a facelift. I don't think that the Rothschilds will permit Hillary to look bad by the end of her reign. The first woman president is a monumental leap for American politics. This will be played out to the extreme. Trust me.
  3. hartage

    hartage Monkey+++

    Untill there is a solid movement to return manufacturing to our own shores for OUR market our economy will continue it's downward slide. Just the rate of drop is in question. You can't stop bleeding till you plug the hole.
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