In 2008, the "great recession" was supposedly caused by mortgage defaults. Yet over 94% of Americans with mortgages paid and continued to pay on time. How in the heck did only a 6% default rate cause that mess? I suspected then and suspect now that other factors were at work.
Now we have the media and talking heads going on and on about another pending recession despite record low unemployment, low interest rates, and a healthy consumer base.. As one commenter on CNBC put it Friday, "We're just talking ourselves into a recession". And we will if this keeps up.
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Roseville, MI, East Lansing, MI, Okemos, MI, Kapalua, HI, Village of Pine Ridge
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