madskillz said:
No one - not even him - expected it to be a forever honeymoon. McCain would have worse, IMHO. What funny is - the recession is nearly over - Newsweek is saying it is over - but the economic recovery is going to take a long, long time. Folks better beg for Jesus because He's the only person who could have corrected this mess we're in. And don't forget - he can only do some much. Congress is to blame for a lot of this mess too. |
I haven't seen anything that truely indicates that the recession is nearly over being that most signs of "improvement" can be interpreted more as a slow down of the rate things are getting worse, can be matched up with signs that the economy is getting worse, and there are still many high risk conditions which have not resolved and could lead to the recession getting far worse in the near future.
As an example of what I mean, there has been a modest increase in the number of homes that have been sold in June but that can easily be explained by bargain hunters (and first time home buyers who were locked out of the market) taking advantage of near historic low mortgage rates and a large drop in home prices. The problem is that the rate of home sales is still very low and is mostly only an improvement because of how bad things were, nothing seems to be slowing the rate of foreclosures which will keep prices from rising too far, over the next couple of years more homes mortgages will have their adjustable rates reset (with far more of these mortgages underwater than we have seen before), and the continued rise in the unemployment rate hurts people's confidence in buying a home and limits their ability to get a decent mortgage.
