Spidey wrote:Slick, I only used the housing market as my example…I also used the term “perfect storm” because there are also many other factors. Many projections over the last year of so have been based on the market reaching a bottom but the housing market is still going down, and foreclosures are still out of control.
actually, you are just seeing a predicatable paperwork lag. The losses have long since been written off and paid down. As for your 'other factors':
The credit crisis (banks are still not lending)
wrong. They simply aren't lending to anyone without AAA credit. A bit constricted, but a logical use of capital when investments are so safely profitable.
Personal credit over maxed
wrong, again. Personal debt has dropped over the past two years and is at a much lower rate. Secondly, just try and get a decent line of credit on a card with a score under 775.
Inept/inactive government
tell me when we haven't survived the above, historically. Hell, we survived the Harding administration and Ullysses Grant, what is even comparable in the present time?
Anemic job market
with globalization, and an increasingly anti-intellectual populace unwilling to either sacrifice or invest in the future, you expect otherwise? The economy will rebound and this nation will still have an 'anemic job market'. Them's the facts, man.
National dept/deficit
well, we came out of the 1950's with much worse of both. Then again, we had a populace intelligent enough to make the most of the situation.
Sure the stock market has recovered…but that is just fake money…not real wealth, as anybody who lost a bundle overnight can attest to.
silly ignorance here. Sorry, bunky, but it IS real money. And, those that lost money overnight were either greedy, stupid, or both.
“I see no reason that the mechanics aren't in place to continue recovery at a slow, steady pace.”
Elaborate please…
we still have large amounts of investment capital. Our corporations are strong, export market is expanding, and productivity spectacular in some industries. We are still the agricultural engine of the planet and have a fairly educated populace(although getting hammered by other hungrier nations). We have a decent supply of some key resources, notably natural gas and water. Overall, not a completely bleak situation, but the bulk of the population might not be bright enough, focused enough or disciplined enough to benefit.
"The Party told you to reject all evidence of your eyes and ears. It was their final, most essential command."
George Orwell---"1984"