We didn't lose jobs to the rest of the world. Our government gave them away!!!!!!!!. Deliberately or accidentally? That former great(?) President Franklin Roosevelt once said " There are no accidents in politics." Probably about the only thing he said or did that I agree with. However my or your opinion means nothing!
I think that the resets will turn out ok in is as much that the mortgage rate should be down sufficiently to negate any major impact. As for the CC's issue that could turn into a real quagmire as unemployment will continue to grow for some time to come. GDP since 2000- 2006 was essentially grown by refinancing and and constant increase credit card debt...six years of fantasy that is going to take a generation to unravel.
=================== Re ''bull shooters,half the bull they shoot AINT true''' Mac; Since its a bear market, I actually sugested that to Congress ; if they gave money to losers like GM. Which penalized ALL, the auto companys that did it right. So technicaly, while we may have a brief bull market; plenty of '' big bull shooters '' coming in DC in JAN. Dont know how long it takes technicals to kick in next downtrend; probably shortly after the whole nation realizes what a difference betwen bull shooters & bull market is,LOL And i think Timothy G,US Treasury is very wise & bullish/USA; but no way even the best, brillant banker can turn a nation, but may turn housing/RE, to genuine bull market , probably will. Dont know if the next bull market in RE includes ''sand states''??
"When the people find that they can vote themselves money, that will herald the end of the republic" -Benjamin Franklin
We've got LOTS of Sand States,actually. It could rebound a bit...hopefully not a dead cat bounce either. The only "hitch" in our plan of giving every adult citizen 1M$ would be that all welfare, SSDI, etc, would be forever over. Never another penny, for eternity. Ya'll got your 1M$, so now make it or break it. hehe