Inquiring minds are looking at the good Doctor over at Dr. Housing Bubble.com where his charts in his post about :
Scouring the headlines from the latest dismal employment report, one can readily see that the second half of 2010 is going to tempt the double dip recession monster. This is to be expected since the solutions we should have taken back in 2007 of breaking up the banks and shrinking the finance, insurance, and real estate industry went by the wayside as financial lobbyists fought and won their ability to rob the taxpayer blind. So three years later, with the overall productive employment base of the country in disarray and housing still unable to recover, we shouldn’t be surprised if a double dip hits. In fact, we’ll look at 13 charts showing that a recession never really went away for most Americans. The exotic loans and lack of employment growth still ripple through the economy even as profits for banks are on the rise.
The 13 charts are a stark, in-the-face argument of what California faces in the near future…
The two charts that were the most infomative were the ones on the Option ARMS and Mortgage Equity Withdrawals. The latter was especially facinating. Please read the entire article. It is well worth the time.
Filed under: Uncategorized |