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No one likes to hear anymore doom and gloom about the economy, especially here in the real estate sector, where it is intimately up close and personal. However, it looks like the old saying is true: “When the US Economy gets a cough the rest of the World comes down with the flu.” If we look at the stock markets around the world we see most of them off nearly 5% today, yes 5%, where did it all go? It evaporated, its gone. Will it all come back? Well, this was predicted by many global economists.

Where many in the US are calling the crisis alarm and a cascading effect from Real Estate to retail, to auto, to manufacturing, to entertainment and so on – many financial newspapers, magazines, and global TV international business news stations are calling for a cascading problem the world over. How real is this? Well consider that not long ago the US middle class consumer was holding up the US economy and most of the World’s economies too.

Many believe this has changed and that the US has less of an impact on the rest of the world’s economies as it once did. Indeed, this is true, yet it is still a huge chunk. If the US slips into recession, and many laugh at that comment stating; “It already is, what planet are you living on;” then, the rest of the world, which sells us goods will feel the pain as well. Today’s stock market pull back of 5% around the world is proof positive that it is more serious than many think, and the situation cannot be ignored.

Where did it all go so wrong? Well, being in the real estate industry, you already know of course, its not like any of this surprises you. Yet, here we are today, wondering will it get any worse, even giving energy to such a notion, is making it worse. So, as many economists of note state; It will be a challenging year in 2008.

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Source by Lance Winslow

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