Quote:
Originally Posted by DaytonBuck
Wouldn't the tech bubble be a bigger net tax gain for the feds via capital gains than housing market? From my understanding the dot com bubble had more play on federal tax revenues than the housing bubble.
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The point is that it propped up a false economic security and growth. Though it is not direct to the stock markets, it is as influential.
Hell, the funny thing is that the Economist and other economic mags have been predicting this for YEARS. We all knew. We were just waiting.
This is what happens when you prop up only one side of the economy (consumerism only).