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.