Will the presidential election of 2008 mark a turning point in American political history?
Now, as the intensity of the presidential campaign ramps up, serious headwinds are threatening to push the economy into a recession, which is putting stock investors on edge. Home prices in many of the nation's biggest cities are falling at record levels, while while subprime borrowers are defaulting on their home loans at alarming rates. The subprime mortgage crisis, has led many thousands of homeowners to lose their houses and caused trouble in the financial markets, is becoming a campaign issue.
Nevada still attracts 6,000 new residents every month, and business analysts predict that the casino industry will bring 80,000 new jobs to Las Vegas by 2012. But the state's housing woes are not only forcing tens of thousands of Nevadans out of their homes; it is also having a ripple effect on the entire economy, according to housing and financial specialists.
There are still 6 months to go until the November election. That's still a lot of time to pass - 6 months ago such deep credit woes weren't considered likely, and now look where we are.
We'll have to wait a year to know if history turns out to be on investors' side.
