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Date Posted: 12:37:55 09/21/09 Mon
Author: Jeffman
Subject: Re: Well, I don't agree
In reply to: Paul Davis 's message, "Well, I don't agree" on 09:33:26 09/01/09 Tue

You could be right but only time will tell. As far as housing goes, housing has been inflated for a long long time. I think house prices are just going back to where they should have been to begin with. Which means that alot of people have lost wealth because they bought a house for 150,000 but its real worth was only 110,000.

I agree we dont need any more bubbles but the markets and business in general is just crazy right now. They are still trying to use the same rulers they have used for 20 years to measure growth. The problem is that people cant spend what they dont have anymore because no one is really lending money. People are overextended. People have started to pay down debt and save money instead of spending like mad. I hope it continues but business hopes it doesnt. Long term, the consumer saving and spending only what they have will be good. Short term, its going to suc for business and recovery. But business continues to use a ruler that says you must have 40% over last year to keep your job. But thats not realistic and it really never was. So right now everyone is cutting like mad in all areas which is causing some of the unemployment but its also self defeating because if all business is not spending and the consumers arent spending then there is no recovery.....

We will see what the future holds. I think there will be a recovery but that it will take a number of years to get there.

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