Knight Kiplinger is editor in chief of Kiplinger’s Personal Finance magazine, Kiplinger.com and the Kiplinger Letter, America’s leading business-forecasting publication. He pointed out that recession is possible for certain industry such as real estate and automobile. But in other industries, especially manufacturing is doing pretty well. Watch the video below for full story.
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Kiplinger is right, methinks, on a recession, inspired mostly by the real estate market. On top of the subprime mess, the ARM resets, ready to trigger, should assure it.
Real estate has been a big part of the present business boom. And, it remains to be seen what a big part it will become of a coming bust.
I write extensively on con men and their scams, and, sadly, this would bring this breed of vermin out from under the rocks in force to “cash-in” on such a disaster.