The Blogging Curmudgeon

The Blogging Curmudgeon
Democracy is the theory that the common people know what they want, and deserve to get it good and hard.

Thursday, April 19, 2007

Hellza Poppin': The Housing Bubble Has Burst

This is Paul Krugman of the New York Times, 10 September 2006.

How big could this be?...You're looking at a hit to the economy that is as big as what happened with the stock market crash at the end of the '90s....It's well in the range where a serious slowdown is likely and an actual recession is not outlandish.

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