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
Read the full story: The Final Blowout
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City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
University of Michigan School for Environment and Sustainability (SEAS)
Hunter College, City University of New York (CUNY)
The Architects Foundation
City of Cambridge
Montrose County
The Pocatello Development Authority