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Housing In Free Fall Nasty Reccesion is set for 2007

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(@blueskies)
Posts: 2231
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Doubtful Bush will finish his term. Given the external/internal turmoil,comatose Bush will go down some how.
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Recession will be nasty and deep, economist says

Housing is in free fall, pulling the economy down with it, Roubini argues

By Rex Nutting, MarketWatch
Last Update: 4:59 PM ET Aug 23, 2006

WASHINGTON (MarketWatch) -- The United States is headed for a recession that will be "much nastier, deeper and more protracted" than the 2001 recession, says Nouriel Roubini, president of Roubini Global Economics.

Writing on his blog Wednesday, Roubini repeated his call that the U.S. would be in recession in 2007, arguing that the collapse of housing would bring down the rest of the economy. Read more.

Roubini wrote after the National Association of Realtors reported Wednesday that sales of existing homes fell 4.1% in July, while inventories soared to a 13-year high and prices flattened out on a year-over-year basis. See full story.

"This is the biggest housing slump in the last four or five decades: every housing indicator is in free fall, including now housing prices," Roubini said. The decline in investment in the housing sector will exceed the drop in investment when the Nasdaq collapsed in 2000 and 2001, he said.

And the impact of the bursting of the bubble will affect every household in America, not just the few people who owned significant shares in technology companies during the dot-com boom, he said. Prices are falling even in the Midwest, which never experienced a bubble, "a scary signal" of how much pain the drop in household wealth could cause.

Roubini is a professor of economics at New York University and was a senior economist in the White House and the Treasury Department in the late 1990s. His firm focuses largely on global macroeconomics.

While many economists share Roubini's concerns about imbalances in the global economy and in the U.S. housing sector, he stands nearly alone in predicting a recession next year.

Fed watcher Tim Duy called Roubini the "the current archetypical Eeyore," responding to a comment Dallas Fed President Richard Fisher made last week in referring to economic pessimists as "Eeyores," after Winnie the Pooh's grumpy friend.

"By itself this slump is enough to trigger a U.S. recession: its effects on real residential investment, wealth and consumption, and employment will be more severe than the tech bust that triggered the 2001 recession," Roubini said.

Housing has accounted, directly and indirectly, for about 30% of employment growth during this expansion, including employment in retail and in manufacturing producing consumer goods, he said.

In the past year, consumers spent about $200 billion of the money they pulled out of their home equity, he estimated. Already, sales of consumer durables such as cars and furniture have weakened.

"As the housing sector slumps, the job and income and wage losses in housing will percolate throughout the economy," Roubini said.

Consumers also face high energy prices, higher interest rates, stagnant wages, negative savings and high debt levels, he noted.

"This is the tipping point for the U.S. consumer and the effects will be ugly," he said. "Expect the great recession of 2007 to be much nastier, deeper and more protracted than the 2001 recession."

He also sees many of the same warning signs in other economies, including some in Europe.


 
Posted : 24/08/2006 4:24 pm
Kievsky
(@kievsky)
Posts: 767
Noble Member
 

If you look at the history of the past 25 years or so, since I've been following the economy, you can see that they are always trying to find some "boom sector" to keep the Growth Economy cranking.

I remember the Reagan era, doing defense spending/housing boom to boost the economy.

I remember Bush I recession.

I remember Clinton and the Tech Boom.

Then Bush needed a "transition" after the Tech Boom went Bust. This transition was two fold -- the housing boom and the War on Terror.

Now the Housing Boom is going bye bye. What next, Bushie?

I think Iran is what's next. THey are absolutely desperate to keep the Growth Economy going at all cost. That's all you need to know to understand the whole thing, I think.

I think the jew thing is part of that -- the jew power comes from the Growth Economy, and the reason the Occupied Palestine is important to the kikes is because it's a military outpost in the middle of the Growth Economy's Filling Station.

EVERY SINGLE ECONOMIC ACTIVITY IN THE US INVOLVES BURNING FOSSIL FUELS.

The Fossil Fuel Boom was great for the Growth Economy. It made it scream like race cars at a NASCAR event.

But it's also going to make the crash that much, much, much worse.

What's going to be interesting is that a deep recession/Grand Depression is going to radically change the culture.

Like Edith sang at the beginning of every episode of "All in the Family"

[color="Red"]EVERYBODY PULLED HIS WEIGHT!

I'm in absolute awe at the prospect -- how is this degenerate culture going to react to the end of the free ride?

It's going to be like 911 every day!

Like 911 times a thousand EVERY . . . DAY! :box:

Kwahahahahahahahahahahahahahaha!

Every day is going to be like 911,000!

Gee our old Lasalle ran great!

Thooooossee woyer the DAAAYYYYZZZZ!


Godzilla mit uns!
http://mindweaponsinragnarok.wordpress.com

 
Posted : 24/08/2006 7:34 pm
(@moose)
Posts: 346
Honorable Member
 

I get to see how fast it's crashing everyday.

I work for a building supply distributor that caters to contractors. Prices for lumber and sheetrock are plummeting almost weekly. It doesn't effect the local area because the growth here is ridiculous, what with all the scared honkies running away from the city to get away from the darkness, but these regional wholesalers are dropping prices constantly.

Interesting times ahead.

I wish the housing around here would come to a halt. I would loooooovvvveee to see all these piece of shit contractors who employ illegal spics take a hard hit. I'm sick of looking at their filthy, capitalist, race treasonous faces everyday. Fags.


 
Posted : 24/08/2006 7:58 pm
Proud White Guy
(@proud-white-guy)
Posts: 2056
Famed Member
 

Yep it'z a comin, and the sooner the better. Good thing all those soccer moms bought SUV's cause they're gonna need a place to stay, when the variable interest rates start kickin in.They are only good for about 5 years, and the clock is tickin.

My favorite is the interest only loans, and the reverse amorotization. I have to hand it to the jews on that one. They actually found, millions of dumb ass niggers, mexicans, and yes, Whites to buy into it, amazing.

They also managed to fuck up some nice "White" neighborhoods, in the process.

They got a lot of muds houses, that don't make enough money to pay the taxes, much less own. most of these muds shouldn't be allowed to mow the lawn in the same neighborhood, they own.

Don't worry, it'z only temporary, the jew will be right there to buy it back, at pennies to the dollar.Da foreclosure monkey, is just around the corner.

This is a good example of the jews cunning. the best part is nobody has a clue, unbelievable.

They robbed raped and pillaged the stock market causing the boom, and the bust. They bled that dry, then they shifted to real estate. I'm wondering what's next. Then the jews wonder why people hate them. How can they be so clever, and cunning. Yet, so fuckin stupid, at the same time.


Niggers aren't human. Humans don't behave that way.

God Bless Elon Musk, Donald Trump, and America, and God Damn the anti-white, anti-christian, and anti-American jewish controlled media.

 
Posted : 24/08/2006 9:13 pm
(@false-freedom)
Posts: 239
Estimable Member
 

Get ready for one hell of a ride, kids! People get antsy when prices fluctuate like this. I almost got into a fight with some guy at the gas station right after Katrina when the price started spiking. Imagine what'll happen when they're struggling to put food on the table!

This kind of crap right here is why I intend to live in a rural area where home prices aren't determined so much by "Location, location, location!" but more by what you actually get. Oh, and variable rates are just a means to get you to sign the line now so they can FUCK YOU OVER later! I have no clue what this "interest only" crap is about, but the name sounds very self descriptive. Anyone want to shed some light on it for me?


 
Posted : 25/08/2006 2:58 pm
(@backwoods)
Posts: 166
Estimable Member
 

Sure, it really is self descriptive. You pay only interest toward the (ever increasing) balance on your mortgage, keeping it at the level it originated at for ever and ever........ Hey, its okay. Your house will always appreciate at least 10% per year right? Well, the mindless, brain dead lemmings here sure thought so but are now close to a rude awakening.

Make sure you all have a suffecient amount of firearms and lots and lots of ammunition, if the wheels do come off you will need it.


 
Posted : 25/08/2006 4:04 pm
YANKEE_JIM
(@yankee_jim)
Posts: 2889
Illustrious Member
 

Like Edith sang at the beginning of every episode of "All in the Family"

[color="Red"]EVERYBODY PULLED HIS WEIGHT!

Gee our old Lasalle ran great!

Thooooossee woyer the DAAAYYYYZZZZ!

Right on the money! (as usual)

-Jim


"Googo dat shit"

The Hudson Valley Freeman

Carry a pocket knife ,wear steel toe boots and always make sure that you have the advantage or these savage simians will fuck you up! -- "White Minority" from VNNForum

“To destroy is always the first step in any creation.”

-E.E.Cummings

"We're seeing people wearing Skrewdriver (a white power band) shirts and sieg heil-ing around town."

-New Paltz, NY Mayor Jason West 08/18/2004

 
Posted : 25/08/2006 4:12 pm
Itz_molecular
(@itz_molecular)
Posts: 2746
Famed Member
 

Interesting times ahead.

I wish the housing around here would come to a halt. I would loooooovvvveee to see all these piece of shit contractors who employ illegal spics take a hard hit. I'm sick of looking at their filthy, capitalist, race treasonous faces everyday. Fags.

Be very careful what you wish for , you may get it .

A collapse in housing could be catastrophic for this nation. Consumers are supposedly 2/3 of the economy . If they clam up , it could mean hard times for anyone who isn't rich . After all , most consumers have been using their homes as a giant ATM .

Chinese curse : May you live in interesting times !


.
[color="Red"]"sneaky 'GD' Jews are all alike." ......Marge Schott

" I'd rather have a trained monkey working for me than a nigger,"

 
Posted : 25/08/2006 4:36 pm
Kievsky
(@kievsky)
Posts: 767
Noble Member
 

Be very careful what you wish for , you may get it .

A collapse in housing could be catastrophic for this nation. Consumers are supposedly 2/3 of the economy . If they clam up , it could mean hard times for anyone who isn't rich . After all , most consumers have been using their homes as a giant ATM .

Chinese curse : May you live in interesting times !

I know exactly what you are saying, and I STILL want it!

The culture is so damned rotten that it needs to be ploughed under completely.

Just imagine all those welfare niggers with NOTHING. NOTHING NOTHING NOTHING! Nothing to eat, no gas, no water, NOTHING!!!!

Imagine the kikes OUT OF BUSINESS! NO MORE GROWTH ECONOMY!!! What will they do? THey'll have to run to Argentina or something.

Imagine the first winter with NO HEATING OIL! Imagine the shivering muds, burning their furniture, then freaking out and maybe crowding into churches or retail stores or government buildings. HEHEHEHEHE!:cheers:

Imagine the desperation, the HELL ON EARTH, attacking each other, robbing each other, killing each other. Imagine the insanity that is coming! Finally!

THe liberals have been laughing at us smugly for decades. Payback time is coming. THe magical fossil fuel economy is going BYE BYE!

By the way, I hear the price of gasoline is going to go down for a while because of DEMAND DESTRUCTION. that is, becuase economic contraction. People aren't driving as much, they aren't flying as many planes, or cruising around in as many power boats.

So the price of fuel will go down a bit. It's called "The bumpy plateau" and we are on it now. So don't let temporary price reductions fool you. When the price of fuel goes down for a bit, think DEMAND DESTRUCTION.

Yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

haaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Godzilla mit uns!
http://mindweaponsinragnarok.wordpress.com

 
Posted : 25/08/2006 7:08 pm
Itz_molecular
(@itz_molecular)
Posts: 2746
Famed Member
 

Just imagine all those welfare niggers with NOTHING. NOTHING NOTHING NOTHING! Nothing to eat, no gas, no water, NOTHING!!!!

Imagine the kikes OUT OF BUSINESS! NO MORE GROWTH ECONOMY!!! What will they do? THey'll have to run to Argentina or something.

Imagine the first winter with NO HEATING OIL! Imagine the shivering muds, burning their furniture, then freaking out and maybe crowding into churches or retail stores or government buildings. HEHEHEHEHE!:cheers:

Imagine the desperation, the HELL ON EARTH, attacking each other, robbing each other, killing each other. Imagine the insanity that is coming! Finally!

Imagine a tyranny where the gov gives each person a few crackers , a little water and 2 hours of electricity each week .

Imagine a tyranny that confiscates the savings of whites and pensions to help the poor unfortunate browns and blacks .

Imagine a tyranny that forces whites to take in subs , into their homes .

Things don't have to unfold the way you imagine they will ........ your imagination isn't as big as reality .

( Oil has always had a history of surge and collapse in price , dates back to the 1800's . )


.
[color="Red"]"sneaky 'GD' Jews are all alike." ......Marge Schott

" I'd rather have a trained monkey working for me than a nigger,"

 
Posted : 25/08/2006 8:37 pm
Itz_molecular
(@itz_molecular)
Posts: 2746
Famed Member
 

So the price of fuel will go down a bit. It's called "The bumpy plateau" and we are on it now. So don't let temporary price reductions fool you.

One White boy's ( or woman's ) invention could make oil as obsolete as a sickle .

Whites do not do enough to cultivate the innate genius they possess .


.
[color="Red"]"sneaky 'GD' Jews are all alike." ......Marge Schott

" I'd rather have a trained monkey working for me than a nigger,"

 
Posted : 25/08/2006 9:05 pm
Oy Ze Hate
(@oy-ze-hate)
Posts: 1565
Noble Member
 

One White boy's ( or woman's ) invention could make oil as obsolete as a sickle .

Whites do not do enough to cultivate the innate genius they possess .

Numerous panaceas to our oil addiction have already been created. Where are they?

We could run the whole planet on the sun's power for an infinite period of time, given the proper technology. Which is developed or in the process of being developed.

Big Oil is like this lumbering goliath that keeps stepping on and crushing the little White Davids with an alternative. And simply out of greed and the status quo.

It isn't for lack of White initiative and creative genius, it's basically because the system will not allow anything else to become reality. Greed mostly.

The only thing elite about the elites is the high figures in their bank accounts. Other than that, they're just a bunch of misanthropic morons who like to sow as much suffering and death as they possibly can in their short lifetimes. These are the fuckers who decide the course of the rest of us, this tiny percentage of jews and various other scum who have killed their way to the top.


Yeah, we're all just a bunch of hateful anti-semites

A note of appreciation from the rich

 
Posted : 25/08/2006 9:25 pm
(@moose)
Posts: 346
Honorable Member
 

Be very careful what you wish for , you may get it .

A collapse in housing could be catastrophic for this nation. Consumers are supposedly 2/3 of the economy . If they clam up , it could mean hard times for anyone who isn't rich . After all , most consumers have been using their homes as a giant ATM .

Chinese curse : May you live in interesting times !

Tell you how I grew up. I grew up under the dictatorship of an old school Army First Seargent and a woman born and bred in Communist Yugoslavia.

The elementary school I attended was fairly decent, due to the more "middle-class" (ie White) neighborhood that was literally on the other side of the railroad tracks. Me and this kid, whose mother was a teacher at the school, got paired up on our science experiment. She came by the house one day to pick him up and when she saw the neighborhood we lived in she had a talk with our teacher and got her son a new partner (whose parents must have had a nicer house in a nice, quiet, gated community). That's the kind of "housing market" I know and love.

I had to go many a time surviving on syrup sandwhiches, butter sandwhiches, mustard sandwhiches. You ever have a roach crawl on your birthday cake?

And in my adolescence...whew...I had some rather interesting experiences going to 95% negro institutions of education. At first it unfortunately had to do with unfortunate gang affiliations I unfortunately inherited from my unfortunate older brothers. But when I discovered "The Rise and Fall of Adolf Hitler" that day in the school library, the reasons for hand-to-hand combat with the ol' African-American student body started to take on a whole new light. I was fascinated with the man's story; his tyrannical father, his dreams of becoming an artist, his life of struggle and poverty. "Hunger had been my closest and most familiar friend." And this man became the conquerer of continental Europe? A young man can't help but dream.... Off track there, but needless to say, I had to fight a lot of niggers. And not just one on one. Yeah, I had to fight a lot of niggers.

Be careful what I wish for? Muhahahaha!

It won't be me that suffers. I was one of those unfortunate young men who got "left behind." No, no, not just left behind. You ever see that movie Platoon? Where Tom Berenger shoots William Dafoe, and the scene...goddamn that was a good movie...but anyway, the scene where all the gooks are chasing him down and the choppers can't go back to pick him up? And that music was playing? I'm William fuckin' Dafoe.

"I am reality."

Shiiiiittttttttt, it's Mrs. Tom Berenger the elementary school English teacher that left my ass in Vietnam that's going to have to taste a little hardship for the first time in her life. Not me.

So I'll just keep on a wishing, and maybe, just maybe, I'll get what I wish for. May we all live in interesting times.


 
Posted : 25/08/2006 11:05 pm
(@grog007)
Posts: 116
Estimable Member
 

If you look at the history of the past 25 years or so, since I've been following the economy, you can see that they are always trying to find some "boom sector" to keep the Growth Economy cranking.

I remember the Reagan era, doing defense spending/housing boom to boost the economy.

I remember Bush I recession.

I remember Clinton and the Tech Boom.

Then Bush needed a "transition" after the Tech Boom went Bust. This transition was two fold -- the housing boom and the War on Terror.

Now the Housing Boom is going bye bye. What next, Bushie?

I think Iran is what's next. THey are absolutely desperate to keep the Growth Economy going at all cost. That's all you need to know to understand the whole thing, I think.

I think the jew thing is part of that -- the jew power comes from the Growth Economy, and the reason the Occupied Palestine is important to the kikes is because it's a military outpost in the middle of the Growth Economy's Filling Station.

EVERY SINGLE ECONOMIC ACTIVITY IN THE US INVOLVES BURNING FOSSIL FUELS.

The Fossil Fuel Boom was great for the Growth Economy. It made it scream like race cars at a NASCAR event.

But it's also going to make the crash that much, much, much worse.

What's going to be interesting is that a deep recession/Grand Depression is going to radically change the culture.

Like Edith sang at the beginning of every episode of "All in the Family"

[color="Red"]EVERYBODY PULLED HIS WEIGHT!

I'm in absolute awe at the prospect -- how is this degenerate culture going to react to the end of the free ride?

It's going to be like 911 every day!

Like 911 times a thousand EVERY . . . DAY! :box:

Kwahahahahahahahahahahahahahaha!

Every day is going to be like 911,000!

Gee our old Lasalle ran great!

Thooooossee woyer the DAAAYYYYZZZZ!

While I am hoping to set myself up like you ski, I don't believe it will be enough, nor that there will be anywhere to run, the suburban and rural crime rates have gone up due to nogs driving and when it hits they'll walk so much for the 911 everyday, whew;the new dark ages it will be until the mexs get them out or under control, whites won't make it. I agree with your economics, I can remember even more recessions of our boom bust economics, as may other economic writers have said over the years, the growth economy is/was a cancer, and we all know how cancer ends with a dead host, and we are the host, it was just another jew lie like many others we bought.


 
Posted : 26/08/2006 4:08 am
YANKEE_JIM
(@yankee_jim)
Posts: 2889
Illustrious Member
 

And in my adolescence...whew...I had some rather interesting experiences going to 95% negro institutions of education.

I went to Mumford High School in Detroit in the late 60's/early 70's. I feel your pain. :D

-Jim


"Googo dat shit"

The Hudson Valley Freeman

Carry a pocket knife ,wear steel toe boots and always make sure that you have the advantage or these savage simians will fuck you up! -- "White Minority" from VNNForum

“To destroy is always the first step in any creation.”

-E.E.Cummings

"We're seeing people wearing Skrewdriver (a white power band) shirts and sieg heil-ing around town."

-New Paltz, NY Mayor Jason West 08/18/2004

 
Posted : 26/08/2006 8:02 am
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