1st Post, Commentary on the state of the housing market.

I have been reading just about all the blogs concerning the housing bubble for the last 3 months and I have also been reading just about everything else related to the economy and housing on my customized google news page related to it as well. My conclusion is we are about to see the biggest darkest economic period of our lifetimes. Unless of course you lived through the great depression, but it may rival that as well.

The following list although not complete gives some of my top reasons.

1. Trade deficit is over $600 billion a year.
2. Budget deficit if you really look at the numbers is wildly out of control. Remember budget surpluses?
3. The housing runup and atm like withdrawals on refinancing.
4. Flat salary growth to the middle class and declines in the lower brackets.
5. Healthcare costs strangling businesses competitiveness.
6. The abysmal savings rate.
7. Baby boomers nearing retirement, thus overwhelming the entitlement programs.
8. Manufacturing disappearing with GM being the poster child.
9. Oil supplies nearing peak if not past peak (there will only be scarcer supplies from here on out!)
10. Bad leadership making bad choices. I.E. Greenspan allowing asset bubbles one after the other. The housing bubble will turn out eerily similar to the nasdaq only it will be in slow motion just watch.

As I said this is an incomplete list there is more but these are the biggies.