There are a lot of people not paying close enough attention, who are getting closer and closer to calling a bottom in the US economy. Those people are forgetting something.
The current crisis was brought on by a bubble in residential real estate.
Commercial real estate saw no less of a boom. The CRE market is as heading rapidly toward as-bad-as residential. And coming up quick is a wave of refinancing that's going to crash on impossible interest rates and credit standards required to get a loan.
So good luck with that recovery there BHO. Let me know how it works out for you when you need another trillion dollars to bail out your pals in the CRE lending industry.
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