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Replies (3)
- Sergio Hernandez, "Sergio Hernandez"
- Contributions:619
The federal government is on the brink of defaulting because we're spending far more than we're taking in.
If lawmakers fail to raise the national debt ceiling before August 2, 2011, a housing double dip will be the least of our worries, because our economy, the stock market and markets world wide will likely crash.
Our country has never defaulted on its financial obligations, but lawmakers apparently believe that playing "chicken" with the credit worthyness of our country is somehow in our best interest.
So, to answer your question, no the fed will not get involved and frankly, if we don't resolve the debt ceiling issue, I wouldn't sweat small stuff like a housing double dip.
If lawmakers fail to raise the national debt ceiling before August 2, 2011, a housing double dip will be the least of our worries, because our economy, the stock market and markets world wide will likely crash.
Our country has never defaulted on its financial obligations, but lawmakers apparently believe that playing "chicken" with the credit worthyness of our country is somehow in our best interest.
So, to answer your question, no the fed will not get involved and frankly, if we don't resolve the debt ceiling issue, I wouldn't sweat small stuff like a housing double dip.
- Dan, "the_country_hick"
- Contributions:4694
I do not expect the republicans would allow another mistake like we had before. They are thinking of 2012 elections now and figure they would get fired if they do another housing programs like the free $8,000.
When the debt limit is reached be sure wasteful programs like this will not be allowed to happen. I personally hope the ceiling stays where it is. The economy would hurt from it yes, but the economy would hurt a lot worse when it gets to 28 trillion with no options in another 9 years at the spending pace of today. 14.5 trillion now. 1.5 trillion additional debt each year times 9 years = another 13.5 trillion. Add in some more wasteful spending and it would happen before 9 years was up.
When the debt limit is reached be sure wasteful programs like this will not be allowed to happen. I personally hope the ceiling stays where it is. The economy would hurt from it yes, but the economy would hurt a lot worse when it gets to 28 trillion with no options in another 9 years at the spending pace of today. 14.5 trillion now. 1.5 trillion additional debt each year times 9 years = another 13.5 trillion. Add in some more wasteful spending and it would happen before 9 years was up.
- Mike Satterlee, "Mike Satterlee"
- Contributions:621
I'm seeing multiple offers on 700K new construction homes in the Kirkland, Redmond (Eastside Seattle) areas. Anything completed is getting snatched up.
HOUSINGS DOUBLE DIP...WILL THE GOVT GET INVOLVED OR ALLOW THE MAKET TO CORRECT?
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- 4.8/5.0
- (1 review)
Contributions:165So the trillion dollar question is...will the government react? And if so...what will their plan entail?
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