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SJoldtimer, I make just a hair under 100K and am basically a recent graduate. However, I have multiple graduate degrees, patents etc blah blah blah. All my friends, who work at all the industries in the bay area, bio, tech, defense etc all make about 70 or so. Yes, I think there are a substantial number of over 100K folks, but these are management, or programmers/chip designers with a very specific narrow focus. The vast majority of us peons make under 100K. I don't know what Ha Ha's gripe is, my wife doesn't work, and while we can't buy a house, we have a great lifestyle.
@HaHa, I am totally in line with your opinions. The whole thing stinks, but the sheep just don't seem to get it. Borrow means you have to pay back, it isn't your money.
jeffolie says
the fed will "monetize debt as the lender of last resort."
What does that mean?
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Okay folks, Happy New Year to you all and good tidings (even if you're a Republican) and yada yada yada. Let's get down to business: what do YOU think 2006 has in store for the US Economy? I know most of us see a housing slowdown as a foregone conclusion at this point, and the past 2 to 3 months of data seem like a whole lot more than just a "Holliday slowdown." But how much of a housing drop do you see, what areas of the country will lead the charge, and how will it affect GDP and our countries' overall economic health? How will the stock market fare in '06? We've already seen the beginning of the "January effect" in the stock market with a nice rally to start the year off ; how long will it last? How about the bond market, are lower prices and higher yields finally in the cards for '06? Can the American consumer continue to spend despite 6 straight months of a negative savings rate? Will the current account defecit and our addiction to cheap Asian Wal-Mart plastic crap continue?! Is gold the next bubble?! Will energy prices stay high or will we see demand erosion with an economic slowdown??!! So many issues, so many possibilities. Come on now armchair Economists, now's your chance to weigh in!
#housing