Bubble Meter Blog was quoted in the Washington Post Express today.
The recession is coming soon. Be warned. :-(
"People are being financially squeezed due to the high gas prices. The more people spend on gas prices the less they have or [are] willing to spend on housing. This really is the 'perfect storm.'"
BUBBLEMETER.BLOGSPOT.COM Thinks rising gas prices coupled with already high housing costs present an economic doomsday scenario for the United States.
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Oh shut up already with the never-ending gloom and doom. The two recent mentions in the Post are really going to your head. Focus on actual analysis and not O'Reilly-style bloviating.
ReplyDeleteDavid,
ReplyDeleteDo you know of any sites that specifically track condo pricing in the DC Metro area?
sardines said
ReplyDeleteOh shut up already with the never-ending gloom and doom.
Gloom and doom? I think not. The possibility of a recession is real.
Let's look at some facts. Lofty house prices, high personal debt, high fuel cost, rising interest rates. Inflation and/or increased business closures will happen. I can't help but conclude there will be a major increase on foreclosures and lending institutions are going to take a hit. Remember the S&L crisis of the early 90s (very similiar).
I don't see how the economy will have an optimistic future based on these conditions. Is there anything that you could think that are signs of a good economic future? I don't know for sure what will happen, but I do know that we are skating on thin ice!
You know what we should all be truly concerned about?
ReplyDeleteThe fact that glaciers in Alaska... 150 feet thick and miles long... are GONE. They aren't coming back.
Now, for those of you who are really on the ball... the question isn't "when will the bubble burst?" The question is "where on the planet should I move to have the best chance of surviving the coming heat, high water, and food shortages?"
If you aren't going to be affected by global climate change, I think it is fair to say that the average third grader is going to lead a very different lifestyle from her parents (one in which pandemics and food and energy shortages are commonplace)
Now where were we? Oh yeah, we're rooting for housing prices to fall.
Foreclosures across the country are up 74% from a year ago. It is only going to get worse....
ReplyDelete"Oh shut up already with the never-ending gloom and doom."
ReplyDeleteI'm not a doom and gloomer, but rather a realist. Not a depression, but rather a significant recession.
"The two recent mentions in the Post are really going to your head."
I post here not to gloat. But rather to record and share the economic activism which is the very heart of what this blog is about.
"Focus on actual analysis and not O'Reilly-style bloviating"
Don't like O'Reilly.
Chip,
ReplyDeleteHopefully people are re-financing to fixed before those ARMs re-set. Somehow I doubt it though.
David,
Congrats on making it to Express, too. I hadn't seen that one.
um, err, uh, the federal government is bigger now than it has ever been. ever.
ReplyDeletelook into it.
(and they aren't melting. they melted. fact. look into it.)
Wow. Would you beleive that I was pulling the trigger on a (legal) semi-automatic in a red state last week? It's true.
ReplyDeleteAre you as "red" as that?
He's not a moderate - he's a detached radical. (See : Harriet Miers & the conservative backlash to her nomination for one example)
He's also in his last thoes; grasping for an issue that will give him a chance to keep his head above water. And what is he grasping at? Renewable energy!
Now, you can discount global climate change all you want (see; NOAA predictions for this season's hurricanes), but you can't argue with the fact that A MAN, OUR PRESIDENT, WHO LITERALLY KISSES AND HOLDS HANDS WITH SAUDI ROYALTY AND IS HIMSELF AN OIL MAN, is turning toward a logical path for future policy. He isn't turning to logic because that is where he wants to be. He is turning in that direction because it is a shot at saving his place in history.
Watch for more talk from W(and perhaps some action?) about national security, the environment, and the economy being tied to renewable energery here in the US. Yes, he's that radical.
Semi-auto means a banana clip with wad cutters in a mid-western state where they don't serve sushi. (i know i know, you are about to faint at the thought of such incivility)
ReplyDeletethey have these things called "airplanes" and they fly to and from "airports".
do you get out much?
I just re-read your post. you are ignorant.
ReplyDeleteYou are ignorant. That isn't "name calling", it is a state of being.
ReplyDeleteLook up the word "ignorant" on dictionary.com
(oh, and my trigger finger moves very quickly)