Quote:
Originally Posted by HotHotHeat
This will sound like I'm up on my high horse, but are people really surprised by any of this? Economists have been warning of the financials sector 'shakeup' for weeks, months, and even years. So many fundamental problems with the US economy...
But it's alright...Bernie boy over at the Fed will wake up tomorrow morning and turn that knob that says 'interest rates' down a bit. Not that he has any clue what it does.
Should be interesting to watch how the Republicans handle the coming weeks.
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I think only the people who view the market with blind faith are surprised by this. American policies have been trying to stave off a recession for decades now and the cycle is finally punishing them for it. Were we not taught this in Econ 201? We can probably prevent a depression, but recessions are unavoidable.
Hopefully Calgary's realty market finally gets an adjustment and I can finally buy in. I kinda feel sorry for people who bought a condo in the last year and a half. That's one market that's not gonna improve for years to come. Looking forward to a decent condo in the beltline for under $200k!
All in all, this is pretty good news for Harper (and the "Harper Party"). There isn't any other viable party that could possibly sell a message of economic security right now.
In the states, I'm not sure how either party will be read. Palin's economic record is astonishingly abysmal and Obama/Biden don't have any experience themselves. Even McCain himself isn't known as a strong economic candidate.