Lew Scannon at Unbrainwashed had a good post on this subject the other day that caught my eye. He talks about the growing mismatch between net worth and earnings and wonders if we’re finally seeing the end of the suburban dream, or worse. His post is titled It Doesn’t Take a Clairvoyant and has some good links.
The housing bubble is dangerously close to popping. Housing sales have declined for the past nine months in a row. And those are new houses, older houses, refinanced at new housing prices are expected to take a hit if the bubble bursts. If the bubble does burst, it could plunge the economy into a recession.We’re just seeing the beginning of this process. As the economy slows, there will be hell to pay. Probably the only way politicians in Washington can escape their constituents' wrath is to keep that Forever War stoked and at a fever pitch. (As noted, the dots all connect in the end.)
On to Iran! Nuclear bunker busters! Armageddon! Glory be!