When I used to drive down to Miami in the late 1990s and early 2000s, I would be amazed to see the amount of building going on. I said to my husband, “where are they going to find enough people to fill all those houses.” Well, I guess they didn’t. When I hear that Nevada and Florida are two of the worst off places, I begin to wonder if there wasn’t one heck of a lot of drug money being laundered in the construction industry which would explain some of the overbuilding, especially there. Any thoughts, anyone??
What also amazes me is seeing the DOW about to break 13,000, and the NASDAQ 3000. Somebodies apparently don’t think we are done for. Hope they are right.
The real estate boom was fiction - using fictional loans with fictional money.
I haven’t studied it, but I’m wondering if the stock market boom is fictional using fictional (borrowed) stimulus funds. I recall Glen Beck a long time ago (a year?) saying how only half the stimulus funds had been spent. And he surmised Obama would wait until the election to dump the rest into the market.
I haven’t listened to Beck in quite awhile though. And it would seem too early for Obama to try to rig the numbers for the election. Probably just increased on the fictional quarterly figures.