Quote:
Originally Posted by Minte
The housing market was booming. Everyone was buying in. Flipping didn't mean burgers any more. A big part of my metals business was in door and window hardware at the time and we honestly could not keep up with demand. In 2008 when it crashed we saw half of our door and window customers consolidate or go under. Even today, we still sell in that industry and the best of the best is back to around 50% of where they were in 2007. So I agree with Robbie. 2000-2007 were fabulous years for a whole lot of people, In spite of President Bush.
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That's saying the bubble was terrific short term. Yes, if we give mortgages to people who can't afford them it will feel like we are doing much better until the bubble pops. That isn't a 'roaring economy.' We can print money, make new bubbles and spike things in the short term... but I wouldn't say that's a good thing. They are trying to do it again right now with student loan debt being repackaged as safer derivative instruments because the amount of debt is massive, government backed, and can't be discharged by bankruptcy. If they succeed, that will not be a 'roaring economy' either.... it will be 'investors' begging to be bailed out by government insurances when many thousands of students default on billions of dollars of debt that they can't repay because it's easier to get a masters degree than a job.
