First, auto sales went in the crapper in the first quarter, but haven’t hit the bottom of the crapper yet.
Second, four percent of mortgages could be in foreclosure by the end of the year.
Third, many subprime neighborhoods are having more and more foreclosed houses ransacked for scrap copper, thereby intensifying the downward spiral of the neighborhood.
Fourth, the housing construction decline hit the two-year mark with no signs of immediate lessening.
Fifth, Federal Reserve Chairman Ben Bernanke is upping his economic warnings.
A skeptical leftist's, or post-capitalist's, or eco-socialist's blog, including skepticism about leftism (and related things under other labels), but even more about other issues of politics. Free of duopoly and minor party ties. Also, a skeptical look at Gnu Atheism, religion, social sciences, more.
Note: Labels can help describe people but should never be used to pin them to an anthill.
As seen at Washington Babylon and other fine establishments
April 02, 2008
Signs of a longer and deeper recession popping up
Labels:
recession 2008
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