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"Dot Com crash was typical wall street greed - the market got way ahead of itself "
So your telling me the real estate crash is different?
You feel manufacturing goods is not important, however selling foreign made imports to each other is? I don't think we will be able to keep fooling ourselves with failed economic policies, ie. "service economy".
Rumors are that foreign countries are getting fed up with our bad "i.o.u.'s". I.O.U.'s like "mortgage backed securities", for example.
- Steve, Raymond

Dot Com crash was typical wall street greed - the market got way ahead of itself (large and small investors alike - perhaps your unfortunate friend?). Last time I checked ecommerce was still on the rise and internet and technology related jobs were still very much alive and a huge part of the future employment base of our country.
- John, Bedford

"Example: Telecommunications Act of 1996 helped stimulate the internet and e-commerce." Apparently, you have forgotten the "dot-com" crash of 2000. A co worker of mine lost 60% of his retirement fund in that one. So much for government intervention. No thanks, I'll pass on that one. Like I said stimulation is only temporary and not long lasting. This is why you have to keep taking m,ore stimulants to maintain activity.
- Steve, Raymond

Steve, you say "government manipulation" of the economy. I say "partnership" between government and private industry is best. Example: Telecommunications Act of 1996 helped stimulate the internet and e-commerce. EU Nations (and even China) are currently partnering w/ companies developing wind turbines and solar technology - and leaving the U.S. in the dust on green technology/jobs.
- John, Bedford

"The cause for the slight uptick in home sales is attributed to the first time home buyer tax credit. Hopefully this will be extended." The current economic disaster was caused by an economic expansion, fueled by speculation in rising home prices. Hopefully the government will come to it's senses and stop manipulating the economy. Their actions are tantamount to constantly jumping a car's dead battery in order to make it run. The best solution would be to let the car owner bite the bullet and buy a new battery and fix that bad alternator. The tax credit and cash for clunkers never should have happened. What is needed is a real reality check. One that will once and for all establish the true, sustainable price of both real estate and goods. The current downturn is costing me $15,000 ~ $20,000 dollars a year in income. How can supporting higher prices while suffering income losses "fix the economy"? In addition the income loss I'm experiencing is resulting in me paying less income taxes also. In the long run there is only two ways to fix this and both are loses for the average person. Those two ways are either higher tax rates or higher inflation. The government should be focusing it's efforts in reducing taxes and inflation. BTW the inflation figures they use, are not real. I know, I shop.
- Steve, Raymond

The cause for the slight uptick in home sales is attributed to the first time home buyer tax credit. Hopefully this will be extended. Congress should also focus its efforts on a jobs stimulus package such as providing more tax credits for energy efficient home renovations.
- John, Bedford

"For the three months ended Sept. 30, 6.25 percent of U.S. mortgage loans were 60 or more days past due, according to credit reporting agency TransUnion. That's up 58 percent from 3.96 percent a year ago. Being two months behind is considered a first step toward foreclosure, because it's so hard to catch up with payments at that point. "
This story is dated 11/16/2009. Realtors said this and Realtors said that. Look what Realtors told people during the "housing boom"! Oh and a 7% drop is good because it is less than the 20% previous drop?
Let's face facts, housing is , unaffordable period! Why do we keep getting these "happy face" stories from these people? Because the greed of the past is now facing a brutal reality! Their livelihood is in danger, so they have to spin disinformation in order to protect it. If things are so good, why did a local auction house report selling a Tech/Industrial building assessed at $392k for a mere $125k? Do the math folks, that's 31% of it's previous assessed value! That's a 69% loss! Sales on the rise ought to read losses increasing!
- Steve, Raymond

Obviously sales have risen since people who have had their homes foreclosed on are now seeing the sharks feed on their demise. That's not increase it is a sad turnover of deeds. Why was there not a more concentrated effort to help those people stay in their homes... it's a game of shells not a healthy economy!
- Tom T, Manchester, NH