• Bill Bonner for The Daily Reckoning
Baltimore, Maryland – All seems to be headed up. But there’s trouble afoot.
Housing in the US, the foundation of most household wealth in the country, has gone into a double dip…which could drag millions more homeowners underwater.
In other words, the speculative markets are moving one way. The economy is moving the other. The markets are going up. The economy is going down.
Oh…and you can imagine what this does to the poor householder. He’s caught in the middle. The real economy pushes the value of his main asset down…while the feds push up the cost of his most important supplies – food and energy.
“Don’t worry about it,” says Bernanke, Geithner et al. The economy is recovering. But is it?
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