Daytr I agree with your analysis entirely. The U.S. is already...

Daytr

I agree with your analysis entirely. The U.S. is already in a recession and heading deeper.
None of this is news as everything you posted has been posted on this blog at least a hundred times.
The U.S. housing market right now is in dire straights. 100 million people living on or below the poverty line in the U.S.. Saw a docco on New Orleans and they still havnt rebuilt the suburbs and the financial support is not getting to the peoples, apparently it is being stolen in the government. No work for the people there and some crazy number of shooting deaths every year something like a thousand a year.

Daytr most of us here have been saying all this for a year or more.
Every day for the last month Ive been getting phone calls from overseas trying to sell me realestate in the U.S.. Things are pretty crook there and there are 100's of thousands and maybe a million foreclosed properties on the banks sheets and the properties are not being maintained. Large companies are buying these properties and trying to flog them overseas, its not working and I would not go anywhere near one.

Here in Australia things may look better in the property market. The banks have something like 80% of their business in the Australian property market. The RBA cannot and will not raise rates as it would be very very detrimental to the property market and the Big Four Banks here. We are in a bind as far as inflation, the property market and rates and I see on the news that Moody's has said the Australian property market is very overprices and will not do well when rates rise.