By: Bob McCarty
Bob McCarty Writes
“This has been a phenomenal year for the economy,” wrote Jeff Harding in a Daily Capitalist post six days ago. “There have been major, fundamental changes that will affect our lives for many years to come. I don’t see these changes as a good thing for the short or long term.”
Harding went on to focus on 10 aspects of the economy that contributed to 2009 taking shape the way it did. They included — but were not limited to — everything from Keynesian economics and deficit spending to health care legislation and the deflation-inflation debate.
Because I never recovered from the “D” I received in my first college economics class which, by the way, was a macroeconomics class for upperclassmen in which my counselor mistakenly placed me as a first-semester freshman, I will not attempt to offer an intelligent discussion of each point addressed by Harding.
Instead, I’m going to paint a picture using visual aids prepared by First American Core Logic about the housing market as of the end of September 2009. [Hint: The numbers in the charts below indicate things will only get worse in 2010. Click on any image below to enlarge.]
To better understand the information offered in the charts above, read the first page of the Dec. 18, 2009, report in which the charts appear.
