Экономический кризис в Штатах закончится когда афроамериканцы научатся убирать урожай картошки в Удмуртии:-D

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АЛИНА ЛЮТАК

Финансовый кризис притянет за собой экономический кризис.

АЛИНА ЛЮТАК

Финансовый кризис притянет за собой экономический кризис.
Galina, I thought it's done already (ch)

Sorry... My phone is even clumsier than I am.
There is a relatively fresh article from NYTimes.
...what you guys think about it ?
*-) (ch)

I have read the article. It talks about Financial market regaining its momentum. But do you realy care about those who dumped us into this shithole. They lost only 8% of the jobs, compare to construction that lost 22% of it. They were sitting on the suitcase with money, and with the help of "THEIR ELECTIVE OFFICIAL" in Washington, sustained their existence.

lol, construction should have lost 100% of the jobs..
( nothing against people working in construction ) but this country has been so grossly overbuilt it will take years and years to get it back to normal.
Home ownership is still way above historical norm + renal vacancy is way above the norm, which means we need 3-4 years of 0 new inventory in order to stabilize.

Well, Mike it is not the same for all USA. In 90s, California was underdeveloped, now it is overdeveloped. But the construction industry did not do it, Wall Street actualy provoke this overdevelopment. Why traded mortgages with no collateral? Who pushed us into this shithole?

well..
it's not overbuilt because of wall street, it's mostly overbuilt because of ez credit. wall street just packaged the mortgages and sold them and wrote a whole bunch financial products around it.
the bulk of the mortgages were "confirming", which means compliant with the government standards ( purchased by Freddy and Fanny ).
By the way, these idiots (GSEs) keep issuing mortgages that will keep failing..
So, i believe the housing market has a long way to go before it totally resolves itself.

Why traded mortgages with no collateral?
Everyone.(H)
Who pushed us into this shithole?
Galina, have you heard anything about CRA?
(low income)--->Community Reinvestment Act?
the roots of this crisis простираются аж в 1977 год.(ch)

Экономический кризис в Штатах закончится когда афроамериканцы научатся убирать урожай картошки в Удмуртии
спросят ли они Удмуртов?
может Удмурты против того что кто то будет убирать
(у них из под носа) их Удмуртский урожай Айдаховки?