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Mascoutah, Illinois | I would believe we inflate first and then the bust. I agree with Puff Dippy that those with deep pockets will still spend especially on the retail end as Nordstrom and Tiffany continue to have robust sales.
All of the warning signs are there but the media has gone from the "end of the world" scenario in March to "everything is wonderful" now. If you take the pulse of mainstream America or at least in my part of the country we know things are not wonderful.
If you saw today's housing numbers you should be alarmed. Mortgage applications are at their lowest level since 1997 even with 30 year rates @ 4.85%. Even with the $8000 housing credit, housing starts were down 10% for the month of October. People are broke, period.
Almost all of America will have to live under their means to get us back on the right track.
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anything trigger this up market?
