The Housing Crash Recession of 2007

"As we approach the end of 2006, the economy's prospects for next year appear more gloomy with each new piece of economic data," says Dean Baker. "And, just like President Bush in his assessment of the situation in Iraq, the economic forecasters are gradually revising their forecasts downward, as it no longer appears credible to present the rosy pictures that they had been trying to sell. The trouble began early in the year, when the housing boom that was supposed to continue forever turned into a housing bust."

//www.truthout.org/docs_2006/120506S.shtml

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