Having studied the depression at length, I have seen this movie. It is the removal of the group that will not work and replacement by the ones that will. Paul's writing does address this in the Bible. I agree with PG V on most of his comments. But, we may see a preview this winter in Europe. Green is a long way off and oil and gas are here. We are a stiff necked people, we Americans. We learn slow but well.
As someone who was involved with supplying military equipment (nuclear powered aircraft carriers) in my career, I noted two major causes for over budget and delayed delivery. One, to get the procurement approved, the military and supplier deliberately underestimate the cost and time needed to make the item. Everyone knew the cost and delivery date was bullshit! Two, the military would continuously make changes to the the equipment, which would delay delivery and increase the cost.
I'm a little puzzled by Dan's chart...with higher mortgage rates, slowing house sales and lowering house prices, how is the mortgage balance continuing to rise without a deflection downward? Would you expect a dip to start showing up next quarter?
I always enjoy reading about Bill's historical comparisons. :)
Having studied the depression at length, I have seen this movie. It is the removal of the group that will not work and replacement by the ones that will. Paul's writing does address this in the Bible. I agree with PG V on most of his comments. But, we may see a preview this winter in Europe. Green is a long way off and oil and gas are here. We are a stiff necked people, we Americans. We learn slow but well.
Just sayin'
Don Harrell
As someone who was involved with supplying military equipment (nuclear powered aircraft carriers) in my career, I noted two major causes for over budget and delayed delivery. One, to get the procurement approved, the military and supplier deliberately underestimate the cost and time needed to make the item. Everyone knew the cost and delivery date was bullshit! Two, the military would continuously make changes to the the equipment, which would delay delivery and increase the cost.
I'm a little puzzled by Dan's chart...with higher mortgage rates, slowing house sales and lowering house prices, how is the mortgage balance continuing to rise without a deflection downward? Would you expect a dip to start showing up next quarter?