The Ship is Sinking

Yes, times are good for those at the top, but that is all about to change as those underneath who lift the top up are falling by the wayside. We talked earlier about the relative economic decay of US currency and the engine that has powered this real estate bubble continues to leak.

"Credit looks worrisome," wrote Morgan Stanley analyst Kenneth Posner. "The company's balance sheet is stronger than the market thinks, (but) credit performance has surfaced as a bigger risk factor than we expected."

Another company tied to housing, building materials maker USG Corp (NYSE:USG - News), said the industry is entering the second year of what will likely be a multiyear downturn.

It makes no difference who is president next, hard times are coming. The difference is which candidate will shrink government. If it is a big government (R)epublican like Bush, that will not be the answer.

Get your house in order, pain is on its way.

posted at 14:25:07 on 07/24/07 by clearpolitics - Category: Economics - [Permalink]

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clearpolitics wrote:

When we made this statement two days before the 311 point sell-off we were simply looking at the data. Statistically, the market rebounds after a big sell-off, though economic conditions do not warrant a rebound but a greater sell-off, from our perspective.
07/26/07 13:08:58

Rob wrote:

Problem is people are greedy. Time to live within your means. It is time to smarten up!
10/23/07 16:47:51

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