The economic endtimes are nigh!
Vansanity points out an interesting article comparing warning sign of economic downturn in the US and Canada:
Fifty-five thousand jobs disappeared last month. The shockingly large loss was the biggest monthly drop in 17 years. But the employment report shouldn’t be too surprising—warning signs abounded. Now, just like all the people who were partying it up around Noah’s ark when the rain first began to fall, some Canadians are finally beginning to wonder if a flood really is coming.
As Ignatius points out ‘The Trumpet’ is a religious publication, and if there’s one thing housing market bears and certain religious people have in common it’s predicting end-times where the righteous will get their reward and those that have succumbed to the sins of sloth and greed will get thier come-uppance. Of course William Kamm and Nouriel Roubini have dramatically different track records at this point.
Regardless of your opinions on religion this article nicely sums up some recent economic news and may raise some red flags for anyone that believe that faith alone can maintain a market.
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August 21st, 2008 at 1:33 pm
“vancouver has some things in common with New York, but that doesnt mean were exactly like them. In many ways we’re better.”
way better. we have more rainbow unicorns. we have more fairy dumpling cakes. we have “action”. all we’re missing is a little population, economic infrastructure and concentration of global cultural activity.
August 20th, 2008 at 5:19 pm
your either lying bdk or you think im someone else. vancouver has some things in common with New York, but that doesnt mean were exactly like them. In many ways we’re better. I also never said vancouver had ‘decoupled’ from the economy. I said that we’re not as vulnerable to downturns as we once were.
August 20th, 2008 at 5:11 pm
Dosh,
You’re the one who said Vancouver was just like New York and that Vancouver had decoupled from the Global economy.
August 20th, 2008 at 4:30 pm
bdk, I disagree with you so that makes me an idiot? Or are you just trying to bait me?
August 20th, 2008 at 4:27 pm
…who needs credit anyway?
http://tinyurl.com/creditcrunch
But a big crunch is coming – and here’s why. Credit card debt, like mortgage debt, gets bundled, securitized, and sold off by banks.
August 20th, 2008 at 4:22 pm
yes, where is satv?
we need his prognostications of the
RE roadkill entrails to find out about
“the next leg up”