The first decade of the new millennium hasn’t been very gentle on the American economy. Crisis after crisis has badgered the federal coffers, with severe effects trickling down into the masses – the ordinary, everyday taxpayers who ultimately bear the brunt of an economy that’s weighing them down with the consequences of boom and bust cycles that don’t seem to slow down.
At the onset of the decade, stock traders finally witnessed what wary proponents of the conservative economics were afraid of – the bursting of the rapidly expanding dot-com bubble which began to take shape in the mid-1990s. Fast forward a few years and Americans saw the housing market, the most stable sector and the last resort against crisis, expand and burst in a buying frenzy starting in 2006. Until now, there is still no clear vision of when the housing fizz will settle down.