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Totally agreed! Thanks for that succinct explanation of the real world connection to all this financial destruction.

A whole lot of capital and labor needs to be repurposed, and it is going to hurt, even without the political system making things worse. History teaches us that the odds aren't very good on that front- it is not a Republican vs Democrat issue, nor for that matter a US vs Europe issue.

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Nah, the effect will be minimal. A house is either being built or it's not being built. The investment in a house that is not built yet is not that much, for the simple reason that there are not THAT many houses being built.

This economic correction will have an effect, but it will not be terrible - it only affects very tiny parts of the global trade, and most of what is affected is just U.S based and very local.

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