What recovery?

Ayn R. Key
by Ayn R. Key

05/15/09

The economic news this year was already going to be bad. Those who did foresee hard times last year also foresaw that this year would have a commercial real estate bust. Those who own strip malls still have to pay the mortgage, even if there are no stores renting space in the strip mall. The commercial real estate bust is on top of the continuing residential real estate bust. But now it appears that matters are going to get much worse. Some people appear to think that the economy is recovering. Stocks are up somewhat and therefore everything should be better soon. This is according to officials in the Treasury and the Federal Reserve, the very same officials who failed to see the recession coming in the first place...

http://aynrkey.blogspot.com/2009/05/what-recovery.html


Informant: Thomas L. Knapp



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