But looking at the overall trend and discounting some of the hurricane effects, underlying job growth is sturdy and strong, Mark Sandi, chief economist at Economy.com, told CNBC's "Squawk Box."The "bottom line is that the economy's fine, it's digesting the effects of these hurricanes very well," Sandi said.
Mark Sandy who is a chief economic advisor at economy.com said this past week, the rich are getting richer, and the poor are getting poorer based on the state tax reduction and capital gains reductions, and that's a fact of life.
However, Mark Sandi, chief economist at Moody's Analytics told Bloomberg that local governments may have missed the opportunity to use eminent domain, as the underwater mortgage problem isn't as much of a risk as it was during the peak of the mortgage crisis.
Home prices stabilize: Mark Sandi, chief economist at Moody's Analytics, predicts that home prices nationwide may still drop another 3 to 5 percent in 2012, but the New Year will most likely finally bring a leveling off of home prices before gains start to take shape in 2013.
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