The new year could well bring the "last blowout of the credit card era", and with it a "fire sale" of U.S. real etate, predicts James Howard Kunstler.
"Investment, after all, is a judgment about future prospects. What are the prospects of a nation that spends way more than it produces, has hocked itself to the eyeballs, and has to pay around two billion a month premium for military security in the Middle East in order to keep those overfed, over-extended "consumers" gassed up for easy motoring between the WalMart and the Home Depot in the suburban gloamings?"
[Language warning.]
Thanks to Michael Dudley
FULL STORY: The Final Blowout
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