Please tell me how the real estate industry will ever gain again. The job cuts in September are the largest since April of 2009. That is two and a half years ago. Some of the brains in the financial world predicted that we MIGHT be out of this recession (depression) by 2011.
Think again. This pain is going to continue for quite some time, I am afraid. There is nothing on the horizon to make companies invest in the U.S. labor force, build new plants, fill inventory orders on American soil and ship them overseas.
We are becoming an importer of goods faster than any exports we can claim.
I am not a financial analyst, but the writing is on the wall. Our economy can not sustain a population of non-taxpayers. And, how can you pay taxes without any income?
Last Tuesday, the Fed Chairman told a Congressional Committee that the economy is close to “faltering”. Does that make you comfortable with your IRA or 401K?
Do the banks need another bailout? Will Wall Street come pandering again?
Oh, that’s right, they don’t beg. They demand. In their case, it is an “or else” deal.
Is this unfixable? I certainly hope not.
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