...are no problem. by PoorSoul
More than half of all Americans couldn't give a damn if the Dow was at 7,000, the S&P at 800 and the Nasdaq at 1,200.
That won't impact their lives.
Butthe BIG PROBLEM is not what will happen to the stock markets if thosemarkets cease being disconnected from the grim economic fundamentals.
DEBT is the issue. THE ISSUE.
And,although what will happen to the stock markets will be painful for thewealthy, what will happen to the real estate market once the IMPLOSIONOF THE HOUSING PRICE BUBBLE REALLY GETS TRACTION will be of monumentalimportance to virtually all Americans.
Forget "a chicken in every pot."
We're talking about "a foreclosure on every block!"
The panic, the economic fallout and the social unrest are gonna be something to behold.
TheGreat Depression involved people who cared about each other and wereinclined to perform random acts of kindness. This time around, thepeople are surly, bigoted, self-centered and armed to the teeth.
We are living in interesting times. |
