The Conservative Cave
Current Events => Economics => Topic started by: Wretched Excess on September 17, 2008, 07:46:45 AM
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well, duh. think it may be the glutted housing market? but at least we are doomed again. I
was beginning to feel undoomed.
Housing construction falls to 17-year low
Data illustrate country still in grips of severe housing downturn
WASHINGTON - Government data show construction of new homes and apartments fell by a larger-than-expected amount in August, pushing activity to the lowest level in 17 years.
The data illustrate the country remains in the grips of a severe housing downturn that has triggered billions of dollars of losses and is reshaping the structure of U.S. finance.
The Commerce Department reported Wednesday that housing construction dropped 6.2 percent last month to a seasonally adjusted annual rate of 895,000 units. That’s the slowest building pace since January 1991, another period when housing was going through a painful correction.
The decline is larger than the 1.6 percent drop analysts expected and showed weakness in all the country except the West.
Link (http://www.msnbc.msn.com/id/26754270/)
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Well, if the goverment would get their paws out of the loan mess, we just might have a buyers market like we've never seen before.
This spring will tell.
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This, too shall pass.
The fact the left is making political hay out of this shows just how low they are. And we should point out that the economic malaise started in 2004, when the democratic party took over congress.
McCain/Palin need to hit that message HARD.
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every cloud has a silver lining, illegals are going home due to no work !
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So let me get this straight...
The theory of supply and demand actually works?
Who'da thunk it? (Maybe the guy (http://en.wikipedia.org/wiki/Adam_Smith) who wrote the book (http://en.wikipedia.org/wiki/Wealth_of_nationsbook) on it the same year (http://en.wikipedia.org/wiki/1776) this country (http://en.wikipedia.org/wiki/United_States_Declaration_of_Independence) was founded?)
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So let me get this straight...
The theory of supply and demand actually works?
Who'da thunk it? (Maybe the guy (http://en.wikipedia.org/wiki/Adam_Smith) who wrote the book (http://en.wikipedia.org/wiki/Wealth_of_nationsbook) on it the same year (http://en.wikipedia.org/wiki/1776) this country (http://en.wikipedia.org/wiki/United_States_Declaration_of_Independence) was founded?)
totally.cool.
any new member that cites adam smith in his first few posts instantly cashes in on the high-5 pseudo-rewards system. :-)
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Thank you very much. :cheersmate:
I'd like to thank my BA in Economics. As I see it, the last 200+ years of economic theory since Adam Smith have been nothing more than refining and extending his original insights.