Saturday, November 10, 2007

It's the economy stupid!

Run- DO NOT WALK- over to Vanity Fair to read Joseph Stiglitz's breakdown of the Bush economy.

Remember when we were talking about an economic surplus in 2000? Under Clinton- my income doubled every 2 years. I was actually middle class for awhile. Under Bush, my income has decreased by one third for every year he has been in office, and that doesn't take into account inflation. Remember when milk was $2.50 a gallon. It's now generally $4.00 in my neck of the woods.

Remember when you could actually buy a house without taking out a jumbo loan? Houses in my neck of the woods now average over $500k and with all the apartments being torn down to build condos, rents are skyrocketing too. $1200 a month for a 400 square foot one bedroom is not uncommon. We haven't even hit the real estate bubble here yet, but it's coming.

No comments: