MARCYINCNY1's CalorieKing blog
Tuesday, Jan 22 2008 - All Eyes on Wall Street
View MARCYINCNY1's food & exercise for this day
Seat belts fastened? I guess the only question now is exactly how bad will it be...
"The median American family is going into what looks like a recession owing more than 100 percent of its annual income."
Elizabeth Warren, Harvard law professor
I've been finding it pretty much impossible to spend much time thinking or blogging about diet & exercise in the face of the economic news.
As I see it, the "housing bubble" implosion is not just the collapse of a market for a particular kind of commodity, it's the end of the entire economy connected with it. It's the natural end of the living arrangements that America has invested most of its wealth in since I was born. It may be particularly tragic that the mis-investments only accelerated as the suburban build-out reached its peak, but it seems to be nature's way that waves crest just before they break.
"The median American family is going into what looks like a recession owing more than 100 percent of its annual income."
Elizabeth Warren, Harvard law professor
I've been finding it pretty much impossible to spend much time thinking or blogging about diet & exercise in the face of the economic news.
As I see it, the "housing bubble" implosion is not just the collapse of a market for a particular kind of commodity, it's the end of the entire economy connected with it. It's the natural end of the living arrangements that America has invested most of its wealth in since I was born. It may be particularly tragic that the mis-investments only accelerated as the suburban build-out reached its peak, but it seems to be nature's way that waves crest just before they break.
2 comments so far.
2.
a decade ago
Yeah, and don't get me going on folks who borrow way beyond their means just to tart up their residences, much less the SUV brigade. What really surprises me is that everyone was so profoundly surprised when the housing market crashed. This has been coming for many years. I totally agree about needing alternative energy sources, along with people walking more, organizing smart trips with their vehicles and sharing rides.
by GTHEISEN
1.
a decade ago
Seems to me that as the baby boomers age, there will be a surplus of homes and prices will continue to drop. I don't think a lot of Americans realize what is ahead as the unindustrialized nations try to catch up with us. Energy costs are going to be higher and scarcer as other countries compete. Our "standard of living" will have to change as well as spending habits. Large companies will survive and probably prosper as they reach out to new markets. ~~~ Here is a site you might like: http://www.solarenergy.org/resources/energyfacts.html and a quote: Though accounting for only 5 percent of the world's population, Americans consume 26 percent of the world's energy. (American Almanac) Do we really deserve this much energy? No. Can we learn to conserve? We must. ~~ Don't get me started on global warming.
by SHADEAU