US Housing Key To Global Growth: Economist
The Economist looks to explain why financial markets have the "jitters". The US housing situation is seen as critical, if not discussed at length. "A weaker housing market could complete the consumer's undoing: prices have climbed by 65% across the nation since 1997 and by much more in some areas, and the boom has helped to fuel an increase in household debt and consumption."
Did you know we've got the whole world on our shoulders? "The stockmarket's fear that the American consumer, on whose shoulders the world's economic growth now rests, is buckling as interest rates and oil prices rise."