A Quote by Joel C. Rosenberg
The glue that kept the consumer market together the last few years was the wealth effect from the housing boom.
Related Quotes
The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007.
Public housing is off-limits to you if you have been convicted of a felony. For a minimum of five years, you are deemed ineligible for public housing once you've been branded a felon. Discrimination in private housing market's perfectly legal.
Although housing sales and starts have cooled to more typical levels, the housing market remains strong and sound. Without the expansion of homeownership and the strength of our housing market, our nation would not have the economic growth we are experiencing today.
We create these boom-bust cycles by manipulating the money supply and the interest rates and directing it where it went in. And that is what happened with housing: pushed into housing combination of easy money plus all the regulations, and we created this boom-bust cycle, and corruption, because corruption goes with it, because you don't have the same discipline. So we've got to stop all that.
Crafting covers so many areas and over the last few years, we have seen a real boom in the U.K. in terms of people adopting craft as a hobby.
Caterham realises corporate America and the American consumer market... is the largest consumer market in the world and it is something that needs to be part of Formula One.
I have concluded that most PhD economists under appraise the power of the common-stock-based "wealth effect," under current extreme conditions... "Wealth effects" involve mathematical puzzles that are not nearly so well worked out as physics theories and never can be... What has happened in Japan over roughly the last ten years has shaken up academic economics, as it obviously should, creating strong worries about recession from "wealth effects" in reverse.
In the long term, there are many factors that will help the luxury market, the creation of new wealth and the Asian tourist boom
The next few years are going to be horrendous in the UK. The last thing we need is a Somali pirate-style raid on the few wealth creators who still dare to navigate Britain's gale-force waters.
The entrepreneurial investors of the time just want to repeat themselves indefinitely and don't know when to stop. You can't do that. And so finally the housing boom, or the auto boom, or whatever it is that's been carrying things along, runs out of customers.
Xerox did OK in moving to digital in the commercial space. They didn't do well in the consumer market, but they're not a consumer brand. They don't even know how to spell consumer.
During the last two years the wealthiest 14 Americans saw their wealth increase by $157 billion. This is truly unbelievable. This $157 billion INCREASE in wealth among 14 individuals is more wealth that is owned, collectively, by 130 million Americans. This country does not survive morally, economically or politically when so few have so much, and so many have so little.
So much value has been lost in the housing market that people are now buying. If there's any activity in the housing market, it's because values have plummeted to such depths that the 47% can now afford to live in a government-purchased house, or something like that.
Instead of building housing in a wealthy neighborhood and saying, here you go, here's some under the market which will, by the way, drop the market for everyone's housing. Go into the lower income neighborhoods and say, here's a business incentives, so that people can get jobs.
It's political glue inside Europe to keep it together - the euro is the best thing going for it since the creation of the common market.
If I had more recreation time I would be able to step back and reflect on how life has changed. But it has been like a constant... boom, boom, boom, boom, boom!
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