History rhymes
By Daniel at 26 August, 2009, 10:44 pm
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Pump that bubble and watch it grow.
When it will burst no one can know,
but when it does look out below.
Like I’ve said before, you can’t export houses. This does nothing to resolve the trade imbalance or the deficit or our growing national debt. Much like the stock market, housing prices are unjustifiably high and unsustainable. Nice pop in the low end housing because of the 8K provided by the taxpayers, but after that program ends it’s back to reality. How many of these new mortgages are going to default because of growing unemployment?
Smoke and mirrors people, smoke and mirrors.
FIA
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