i dont know if i buy this. I mean there might be a recession- but thinking itll effect everyone? i dunno.
whenever an economist talks the first thing i do is prepare to be "spun".
Whenver i read the fine print in the "everything's coming up roses" articles form the past 4 years, i'd see that most of the "job creation" was in low paying sectors, that companies reporting massive profits were still laying off their skilled workers, and so on.
So when i read, now, that housing prices are dropping the first thing i think is: great. maybe i can finally afford to buy a place now.
Economics is largely a revered set of smoke and mirrors.