
Originally Posted by
tazman9r
I think your getting a little ahead of yourself, predicting a tsunami and all. No one can accurately predict the path of a hurricane, or tornado, nor the occurrence of a tsunami. And I am quite sure that the US economy is not a weather predictor. Using that logic it would be safe to suggest that trailer parks cause tornadoes.
And if Sen. Obama wins the White House (by Bill I presume you mean Richardson, I was unaware anyone had been chosen as VP yet) and raises taxes like he says, that will only send us into economic troubles faster. There is less incentive to create wealth if you know that the government is just going to confiscate it through taxes. By the way, while we are waxing conspiratorial, did you know that rich is defined as somewhere between $200,000 and $300,000. This is designed as an assault on the moderately successful small business. It's also an assault on those who succeed in the corporate sector or independent sales sectors. After all, it's "dangerous" for people to become too successful on their own. They might decide they don't need the government to do things for them.
Even CNN now realizes that in this year's presidential race anything is possible. I believe the wise will sit quietly and watch things unfold as we continue down this strange parallel universe where Democrat attacks Democrat with the same tactics they use to assault Republicans.
The only thing that will cause houses to fall in price is a fall in demand for houses. If they are priced out of reach for a populace suffering in a recession, the home's price will fall to accommodate, as long as Europeans don't keep buying up property here, since it is so cheap for them right now. And of course, profit vs. loss will be a consideration.
As far as a recession goes, while I certainly will not deny the indicators, have you seen the movie Sneakers. I wonder if the press is not engaged in the attempt to convince the populace that the economy is worse off than it really is right now. They have their objectives, and they have been influencing elections for ever.