Re: Underwater mortgages and the economy
Doug Pensinger <[email protected]>
| Newsgroups | gmane.culture.sf.killerbs |
|---|---|
| Message-ID | <[email protected]> |
Dan wrote: > So, we had a US economy that was really doing nothing, but lots of money > looking for a US home...thus real estate, which the Risk Assessment Model > said couldn't go down more than a couple %. Add to that the (hundreds of?) billions of dollars of tax cuts Bush gave to the wealthiest people in the nation who already had more money than they knew what to do with. > Third, to get out of this, the US needs a positive black swan to change all > the rules again. This will soak up investment capitol, with a real return > on investment, because wealth will be created. Until it comes, we're > treading water. Or a negative black swan, pardon me for pointing out what might happen. The blackest of black swans. Doug