I’ve said it many times, its going to get worse long before it gets better.. we are only seeing the very tip of the iceburg on this...
The scale and impact of the housing collapse is going to be much larger than anything we’ve seen since the great depression... the S&L collapse is a drop in the bucket compared to what this will wind up being.
Hopefully it will deflate slow enough that an all out depression does not occur, if however it deflates rapidly, its going to get VERY VERY ugly.
I’ve said it many times, its going to get worse long before it gets better.. we are only seeing the very tip of the iceburg on this...
The scale and impact of the housing collapse is going to be much larger than anything we’ve seen since the great depression... the S&L collapse is a drop in the bucket compared to what this will wind up being.
Hopefully it will deflate slow enough that an all out depression does not occur, if however it deflates rapidly, its going to get VERY VERY ugly.
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Almost the same words were spoken to me more than a year ago by a truck driver. The difference was that he used no ifs, ands or buts, he was convinced that it will be worse than the great depression with no room for doubt. Of course he was just a truck driver and couldn’t possibly know anything, could he?