The Bush Depression
In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.
McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.
Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit.Bush created a national debt larger then the first 42 presidents combined
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why isnt obama 25 points ahead
The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.
Let's teach him we are smarter than that .
31 states are voting now, dont wait
Elect Obama Biden 2008
Check out this video of sarah palins interview before you vote
http://www.youtube.com/watch?v=r36Xc0GG4i
- 1
- 2
High-Tech House Hunt
Email To A Friend
Please fill in the following information and we'll email this link.
Like its chief competitors, Realtor.com and Zillow.com, Trulia makes money by selling ads on its site, so its business depends on attracting more eyeballs by coming up with new features that appeal to house hunters. "Our goal is to produce compelling, useful tools to support [buyers] with what's the most important financial decision of their lives," Flint says. Sites such as Trulia and Zillow are drawing millions of visitors a month and have steadily lured real-estate ads away from their traditional home in newspaper classified sections, which has further hurt the already beleaguered newspaper industry. As a result of declining ad sales, the Los Angeles Times, in July, stopped printing its Sunday real-estate section altogether.
Zillow, too, has launched mobile browser-versions that are accessible via iPhone or BlackBerry. For cell phone users who aren't into Web browsing, Zillow also has a service that allows you to text or email an address to z@labs.zillow.com and instantly receive basic property information, such as: the number of bedrooms, the number of bathrooms, the square footage, and Zillow's estimate of the home's value. In July, Realtor.com introduced an application for use on cell phones running Microsoft Windows Mobile operating system; the site already offers iphone.realtor.com, a special URL tailored to the iPhone's browser.
Saul Klein, the CEO of InternetCrusade, a company that offers technology training to real-estate agents, says it's not only home buyers who will find these new mobile applications compelling. "Even if I'm not in the market for a home, if I drive through a neighborhood and see a property for sale, I'd like to be able to pull out my smartphone and see what they're asking for that house," Klein says. "That's what people want today: speed, convenience and choice."
And it sure beats pulling listings out of the fax machine.
Daniel McGinn is a NEWSWEEK national correspondent and the author of "HOUSE LUST: Americas Obsession with Our Homes."
© 2008
- 1
- 2
My Take
Each Newsweek reader is different—and now your Newsweek can be, too. Use this page to create a experience that's personalized for you and your interests. My Take: it makes Newsweek whatever you want it to be.










Discuss