[Danzig]

i've been reading sky is falling, we're heading for a recession talk for a few years now.
then you read economists who say we are NOT headed in that direction. then you see conflicting news, sales up, the dow is down, but unemployment is falling, new jobs are rising.

the housing market was inflated a couple of years ago, with people and banks falling all over each other trying to get anyone into a home-including people who had NO business buying. they talked themselves into getting an ARM, and then hoped like hell it didn't adjust up--which shows incredible naivete.
now those who dug too deep are in too deep, and banks who overreached are hurting.

so, those who are in the right position will make out, as always. those who are ready to buy are waiting til the price gets low enough.

a lot of this could be avoided by people who find themselves in trouble getting on the phone with their debtors, and coming up with a solution. but too many ignore the second and third notices, stick their head in the sand, and then find they've gotten in way too deep to get out.

and so the businesses who find themselves in a tailspin suddenly want US (the govt) to bail them out for their over-reaching. it's ridiculous.


but i also remember years ago hearing how the american dream was ending, that home ownership was going down, etc, etc. ebb and flow. we've been thru this (and worse) before, and we'll get thru it again. and again. and again.