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[http://www.myprops.org/content/Worst-Is-Yet-to-Come-Americans-Standard-of-Living-Permanently-Changed-video/] - - public:time
crisis, economy, eta - 3 | id:3787 -

But "the worst is yet to come," according to Howard Davidowitz, chairman of Davidowitz & Associates, who believes American's standard of living is undergoing a "permanent change" - and not for the better as a result of: * An $8 trillion negative wealth effect from declining home values. * A $10 trillion negative wealth effect from weakened capital markets. * A $14 trillion consumer debt load amid "exploding unemployment", leading to "exploding bankruptcies." "The average American used to be able to borrow to buy a home, send their kids to a good school [and] buy a car," Davidowitz says. "A lot of that is gone."

[http://money.cnn.com/2009/02/13/news/economy/easton_economicteam.fortune/?postversion=2009021312] - - public:time
blog, economy, eta - 3 | id:3806 -

"We have limited resources," he says. "Everything we spend has to be financed and the interest paid. A dollar spent inefficiently is a dollar too much. Changes to entitlements tend to stick. A bridge can be built in the wrong place. These are long-term decisions that affect the budget baseline for years to come."

[http://www.mybudget360.com/monthly-foreclosures-and-the-dreaded-road-ahead-on-path-to-another-3000000-foreclosures-for-2009-1-out-of-every-173-homes-received-a-foreclosure-filing-in-california-8800-foreclosure-filings/] - - public:time
california, economy, eta, foreclosures, mortgages - 5 | id:3810 -

[http://safehaven.com/showarticle.cfm?id=12573&pv=1] - - public:time
defaltion, economy, eta, finance - 4 | id:3812 -

10 Things You Should and Should Not Do During Deflation by Robert Prechter This article is part of a syndicated series about deflation from market analyst Robert Prechter, the world's foremost expert on and proponent of the deflationary scenario. For more on deflation and how you can survive it, download Prechter's FREE 60-page Deflation Survival eBook, part of Prechter's NEW Deflation Survival Guide. The following article was adapted from Robert Prechter's NEW Deflation Survival eBook, a free 60-page compilation of Prechter's most important teachings and warnings about deflation.

[http://www.money.co.uk/article/1002774-balls-predicts-worst-downturn-for-100-years.htm] - - public:time
crisis, economy, eta - 3 | id:3822 -

Shadow treasury minister Phillip Hammond described the comments as a "staggering and worrying admission". He told the BBC: "Is Ed Balls spilling the beans here and telling us that the government sees the situation as slightly more serious than they have tried to portray?"

[http://www.bloomberg.com/apps/news?pid=20601039&sid=aIG0IFyOTHvw&refer=home] - - public:time
economy, eta, recession - 3 | id:3963 -

Recession Deniers Peddled the Same Lame Excuses: Caroline Baum

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