Hollow US Economy Revealed By Housing Bust - Madland on CNN

http://www.americanprogress.org/issues/2008/02/housing_downer.html

David Madland of the Center for American Progress tells CNN, the housing bubble burst has revealed an economy that hasnt created new jobs or raised wages while costs for fuel, food and other necessary goods has soared. According to CNN, Goldman Sachs research reveals 30% of mortgages nationwide, or 15,000,000 homes, are now worth less than the mortgages people are paying for them.

www.AMERICANPROGRESS.org

Category:

News & Politics

Tags:

• economy
• recession
• housing
• real
• estate
• money
• credit
• debt
• foreclosure
• stimulus
• finance
• mortgage
• subprime
• commen

[TaffyAlpha]

China went down in the opium wars, and now it's back up...

[doooooohh]

usa is on way down... and it will never rise again... fucking learn it

[danpt2000]

@TaffyAlpha: Why did the Opium Wars occur? Because the Brits couldn't find anything to sell to the Chinese, except for Opium. The British Empire had massive trade deficit with China. Does that sound familiar?

[danpt2000]

@Sillberdachs: LOLOL!! McCain, alright, but Palin??? McCain has one foot in the grave, Palin could become president if McCain died.

[oldpappymgellianthet]

Obama has destroyed our economy, what a dick. he is coming for all your paychecks too.

[Sillberdachs]

I changed my mind im voting McCain/Palin

[Sillberdachs]

I changed my mind im voting McCain/Palin

[jackzaf]

Before you shit your pants?