Trickly down attacks on the middle class

[question everything]

Home sales is down

Car sales is down

Well, what do they expect. As the middle class has shrunk, so have the funds to purchase homes and cars and "associated" items like furnitures.

Not surprisingly, now "Wall Street" is worried about other investments funds that purchase mortgages as the default rate is rising.

But, hey, sales of multi million dollars homes continues to hum. Merrily.

[mrcheerful]

1. What didn't you hear? Thats how things are in your state, all the other 49 states are having a boom

in job growth, at least according to the republican experts who live in your state. Sorry, one moran from michigan insists that michigan is the only state facing job loss and economic hardships, the other 49 are just cooking out the jobs.

[fasttense]

2. But the DJIA is up

Happy days are here again... just like in 1929.

$825 billion (7% of the GDP) was extracted from home equity just last year. That means with the housing market falling, that $825 billion is not going to be spent and is cut off.

[applegrove]

3. Maybe there theory has to do with the rich buying more than one home

and furnishing it? Then that will go bust too.