The housing bubble bursting could collapse the entire US economy March 21, 2007
Posted by Al in : politics , trackbackWhat a shame! Just as the rest of the world has thought for the last year the American economy is on it’s way out. As the housing bubble bursts foreclosures will rise, however buyers will be scarce and lenders will be burnt. Along the way more powerful lenders and investors will feel the effect and all sorts of investment portfolios will start to crumble. Once they do the enormous debt the American economy has been ignoring for the last decade will emerge, and when it collapses the US economy will disappear down the plughole faster than an airplane toilet flushing. I only hope that we in the UK are sufficiently divorced from the American economy to avoid the fallout that will soon be reverberating around the world.
Comments»
no comments yet - be the first?