Interesting reader comment to story:
Housing collapsing, local and state gov'ts on the brink of collapse (you will hear all about it starting Nov. 3rd when the liberal states/cities will start begging for bailouts b/c they don't have the balls to take on the unions), auto sales dead and not coming back and trade deficits very large each month and GDP growth very low
in the next 6 months there will be a PLUNGE in housing markets and many local and state gov'ts will run out of stimulus and reserves and start to beg for more bailouts so they can pay the skyrocketing pension and healthcare costs of their retired union workers.
If NYC starts to tank it will have a terrible ripple effect on the many states in the Northeast that rely on NYC/wall street to survive. Many workers in NYC live in the neighboring states and if wall street and NYC are hit with higher local, state and federal taxes they will flee to cheaper states or cheaper countries (they can invest anywhere in the world with the internet).
NYS/NYC are on the edge and they can bring down the entire Northeast with them.....(northeast home sales and pending home sales are at depression levels and falling more this winter)
Topic: Market watch: The economy is running out of gas (Read 401 times)