And a Happy Thanksgiving to you too!

You know, I guess there’s a lot we could argue about in terms of whether the economy is recovering or going downhill or what, but we do have a lot to be thankful for.

I’ll more thoughts on that in my Mortgage Market Week in Review – Thanksgiving Edition…….

Sign up for it by sending an e-mail to mortgagemarket@aweber.com.

It’s free!

Tom Vanderwell

Just in Time for Holidays: Another Dire Economic Forecast – Economy * US * News * Story – CNBC.com

David Rosenberg, who used to be Merrill Lynch’s chief economist and now works for Gluskin Sheff of Canada, told CNBC Tuesday that the US economy is mired in an economic crisis that shows only scant signs of abating.

“We’re in a form of Depression,” Rosenberg said in a live interview. “Depressions…typically happen after a prolonged period of credit excess morphs into a collapse and you get asset deflation. We had asset deflation and we had a contraction in private-sector credit.”

Rosenberg is just the latest well-known expert—including New York University’s Nouriel Roubini and Pimco bond fund’s Mohamed El-Erian—to warn that the economy remains mired in either no growth or slow growth that will last several years.

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