Housing Bust Comes Roaring Back, Worse Than Ever

[swgprop]

The next leg of the housing bust looms:

Another 20 percent carved off the aggregate value of US housing means another $4 trillion loss to homeowners. That means smaller retirement savings, less discretionary spending, and lower living standards. The next leg down in housing will be excruciating; every sector will feel the pain. Obama's $75 billion mortgage rescue plan is a mere pittance; it won't reduce the principle on mortgages and it won't stop the bleeding. Policymakers have decided they've done enough and refuse to lift a finger to help. They don't see the tsunami looming in front of them plain as day. The housing market is going under and it's going to drag a good part of the broader economy along with it. Stocks, too.

Currently on front page of http://www.counterpunch.org/

Permanent link to article here (though not working at the time of this post).

[Chomsky]

Re: Housing Bust Comes Roaring Back, Worse Than Ever

Whitney is wonderfully caustic.

[rjwjr]

Re: Housing Bust Comes Roaring Back, Worse Than Ever

The next leg of the housing bust looms:

Policymakers have decided they've done enough and refuse to lift a finger to help.

And this part is a bad thing why?

[cjppjc]

Re: Housing Bust Comes Roaring Back, Worse Than Ever

Whitney is wonderfully caustic.

Caustic! I'm beging for caustic. He's screaming fire in a crowded theater. Hey what about this:

http://www.youtube.com/watch?v=7kKmzdYm4JI

[Mango]

Re: Housing Bust Comes Roaring Back, Worse Than Ever

Whitney is wonderfully caustic.

He is. But WHO is he? I've been reading his stuff regularly for a couple years now, but I have no info on the guy except an email address. Maybe I should write and ask him.

[swgprop]

Re: Housing Bust Comes Roaring Back, Worse Than Ever

He is. But WHO is he? I've been reading his stuff regularly for a couple years now, but I have no info on the guy except an email address. Maybe I should write and ask him.

Hard to find much on his background, here is a short bio:

Mike Whitney graduated from St. Michael's College in English Lit in 1975. Since then he has been running his own landscape company in Snohomish, Wa for the last 23 years. He has two children, both of whom are attending Western Wa University in Bellingham, WA. Currently, he is Program Director of the Snohomish County Democrats but, he admits that his interest in politics only began with the appointment of GW Bush as President.

Like many other regular Americans, he has understood from the very beginning the global aspirations of the Cabal that presently occupies 1600 Pennsylvania Ave and the threat they pose to the world. It is a threat that is as real and as far reaching as any we have seen since the rise of Fascism in 1930s Germany (The author's description of himself).

His picture apparently:


And ostensibly his business - Whitney's Gardening

http://www.allbusiness.com/companypr...3848777-1.html

Other than that I got nuthin'. I do enjoy his slant on things though.

[Mango]

Re: Housing Bust Comes Roaring Back, Worse Than Ever

That's some pretty good research. I hadn't found anything with a simple Google search.

Thanks