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Today: 20.01.2018 - 03:27:05
   Canada Mortgage Hub Discussion Board -> Mortgage Ottawa -> Is the US economy about to collapse?
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nigal16

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Is the US economy about to collapse?
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Canadian mortgages inc
Post # 1.

pamhenry

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Define "about to". Personally, I think some hard times could do this nation of spoiled brats a great deal of good. Ever notice how the elderly who survived the great depression (1930's for you kiddies in public school today) save and reuse nearly everything. My mother used to have a drawer in her kitchen full of empty bread bags and gently used alum. foil. They had pride of place and fiscal responsibility.
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Post # 2.

nilandfam

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Yes, it is, because the fiat credit bubble is bursting and we are ALREADY IN A RECESSION. A big clue that the economy is going down the tubes should be the reports of all the "cash infusions" to the Fed. Reserve, and the fact that prices keep rising with no end in sight.
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Canadian mortgage
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nuxe

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it sure looks that way.I hope a 1929 depression happen in the US .Housing falling because of the fraud by the banks and lenders /the bond holders overseas going to lose money banks have to pay face value of the loans .It will go worldwide They all deserve it
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pacificinc

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Collapse? Well, it isn't doing very well these days, and the housing market should be one BIG indicator for those who think otherwise.The foreclosure crisis will have profound economic effects in 2008. U.S. GDP will be $166 billion lower as a result, because new residential investment will be weaker, lowering spend- ing and income across the construction industries, and because consumer spending is cur- tailed as homeowners respond to decreased home equity wealth. Both of these spending impacts have multiplier effects across the economy as lower incomes decrease demand for other goods and services. As a result, there will be 524,000 fewer jobs created across the country in 2008. Homeowners will also see property values decline by $1.2 trillion in 2008. The initial ad- justment of over-heated home prices to the combination of weaker market demand and large inventories of homes for sale would have reduced values by $676 billion in 2008. Now, due to the foreclosure and mortgage crisis, home values will decline further, by an addi- tional $519 billion. Foreclosures in 2008 will increase by at least 1.4 million. These homes represent a market value of $316 billion.
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Canadian mortgage lender
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