Thread: Rupert Murdoch Sees Recession, 5 Years of Real Estate Woes

Rupert Murdoch Sees Recession, 5 Years of Real Estate Woes Sunday, Dec. 16, 2007 10:10 p.m. EST

Rupert Murdoch, media tycoon and new owner of the Wall Street Journal, predicts that the U.S. faces a recession that will hit the overall economy and could undermine real estate for five or six years.
Appearing on Fox News' "Your World with Neil Cavuto," Murdoch admitted that he’s worried about the economy.

"I think we are in for a recession, probably. How bad it will be, I don't know. But I think there's a lot more bad news to come ...â€

If they didn't loan it out to illegal's in the first place they wouldn't be in this mess. The bands and housing markets deserve it. Don't listen to Bush you idiots. Everything he touches turns into Tijuana.

[quote]Ending on a positive nore, Murdoch said "People talk. I was seeing the debates today, about jobs going overseas and so on. I thought disgraceful things. There is no one in America who wants a job who can't get one. We have got a state of very near full employment here. The country is doing pretty well.â€

Our children as teenagers used to be at Wendy's and McDonalds ect. when they were in highschool to earn extra money. Those jobs are now held by illegals that can't even take your order. Wages have gone down because of illegal's. Now the next comment is going to be, well the prices will have to go up if we get rid of illegals. Well that does not sit well either. We just won't by your crap if you raise the prices and you corporations don't need to make so much profit.
PROFIT is the name of the game.

Rupert Murdoch, media tycoon and new owner of the Wall Street Journal, predicts that the U.S. faces a recession that will hit the overall economy and could undermine real estate for five or six years.
Appearing on Fox News' "Your World with Neil Cavuto," Murdoch admitted that he’s worried about the economy.

WOW he owns fox news and now the wall street journal He can really keep the propaganda going now!!! It is globalist elites like him that are leading to the demise of America!!!

Yes, the corporate propaganda machine just keeps on growing doesn't it?

The prices didn't go down because the illegals came - the profits just went up for the business owners.

The price of a product made, served,etc., by an illegal is not totally reflected in the price paid at the checkout stand. You must add the expense of educating, medicating, feeding and housing them. Then you must add the price of increased healthcare costs, increased auto insurance, etc. Wonder how much that makes that Big Mac actually cost us?

As for the housing boom, I think that was a manufactured boom and they knew it would have to bust at some point - but I'll bet the big guys got out while the getting was good - leaving us taxpayers holding the bag.

That is exactly what happened nntrixie. The middle class has been totally exploited and discriminated against for the last 8 years and oh yes even druing the Clinton Adminstration. If anyone should be able to sue the government for discrimination it is the legal American Citizen. This includes the State levels also. Our own states have not even stepped in to help.