Toxic Soup: $4 Gas & Housing Double Dip

[cieldumort]

How much longer will the US economy be able to take this?

CNBC
May 9, 2011
Home Values See Biggest Drop Since 2008

U.S. home values fell in the first quarter at the fastest rate since late 2008, real estate data firm Zillow said on Monday, suggesting that a bottom will not be seen until 2012 at the earliest.

Zillow said its home value index fell 3

Comments

[badnewswade]

It all depends on how long they're going to go on throwing money at the rich and impoverishing everyone else to "cure" the problem.

If they spent the cash on a massive, Apollo-sized project to bring in renewables, plug-in hybrids and mass transit, the economy might recover a lot more sustainably, and with less need for cheap oil - but don't hold your breath.

[cieldumort]

Right??

Great icon btw!

[badnewswade]

The point I want to make is almost an anti-doomer one - it's not that there aren't ways out of our predicament, it's that a deliberate choice is being made to run down the US, UK and poor Eurozone economies. It's basically opportunistic - like surviving being run over only to find scumbags going through your pockets and stripping off your clothes

[floundah]

Very well said. There's some damned scary shit going down out there. Even intelligent people (much of my own family, for example) are extremist tea partiers.

And yeah, I love your icon. May I steal it? :)