In a normal time, I don't think economic policy makes a large difference one way or another. But in times of crisis it makes all the difference in the world.
Mark ZandiThere is a banking adage that if it's growing like a weed, it's a good chance that it's a weed.
Mark ZandiDefaulting on the nation's debt would be cataclysmic. The U.S. Treasury's Aaa rating is the one constant in the world's financial system. When times are bad anywhere on the planet, global investors flock to Treasury bonds because they know they will get their money back.
Mark ZandiPotential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?
Mark Zandi