20% Drop in Housing to Cause Recession in 2012, Says Gary Shilling

reply to post by TupacShakur


Well this thread is about housing. NOT oil prices like epsilon got into. I did not even continue reading his entire post when he went off of something other than housing.. The economy is screwed up right now, that is all that matters Tupac.

One of the serious perks of being a fringe theorist is that I was fully convinced of a housing bust and subsequent economic contagion more than two years before the 08 crash. As a result I purchased a cheap fix up house which while quite nice now, I can more easily afford than those who stretched themselves. Also, percentages lost on the purchase price of my current home are far less than what I will save in actual dollars when I move up. Even though it looks like it will work out okay for me, I hate what it has done to our economy and I think those who are responsible are jerks.

And it is totally impossible that I could know about the bust and likely mortgage defaults ahead of time but ALLthe experts on Wallstreet and in D.C. were taken by surprise. I like to think I am smart but I am not that smart. They knew and they buried it, taking profits the whole time.

Well fortunately for us those tax cuts for the millionaires and billionaires should be kicking in any day now and the wealthy will start creating those new jobs! What a relief. I wonder... if we hurry we should be able to shut down Social Security and Medicare and perhaps we can reduce taxes even more. That should get the jobs humming right along! I have another idea regarding privatizing oxygen that could be a real job creator!

reply to post by watcher3339


Nobody on wall street or in the banks were surprised about the housing crash. They just did not know how to deal with it. It is the blind leading the blind. Political agendas sort of pushed it.. That DID NOT sneak up on anyone.