Loved the article.  There is one problem with the time frame that is laid out, it does not take into account the amount of subprime mortgages that have already defaulted and have not been reclaimed.  I guess what I'm saying is these new Alt-A mortgages will fall into the already back logged subprime, just creating an even longer depression.  i suspect they are being overzelous with it coming lasting into 2012, I suspect it will be longer, more like 2014.

Quote from: Azorus on March 18, 2010, 03:32:41 PM
Loved the article.  There is one problem with the time frame that is laid out, it does not take into account the amount of subprime mortgages that have already defaulted and have not been reclaimed.  I guess what I'm saying is these new Alt-A mortgages will fall into the already back logged subprime, just creating an even longer depression. ...

By that, I assume you mean the properties are languishing on the American real estate market and clogging the banks' books with bad assets?  If so, I agree the added delinquencies would depress the market further.

Quote
... i suspect they are being overzelous with it coming lasting into 2012, I suspect it will be longer, more like 2014.

Oh, absolutely.  And that's not all.  There's economic pressure on another front:

http://business.timesonline.co.uk/tol/business/economics/article5733723.ece
(My question is:  Can Germany or France or the EU continue to bail out member states forever?  Without serious social consequences?  I think not.


http://www.guardian.co.uk/commentisfree/2010/feb/07/greece-default-debt-eu
(Same thing here.  Other European countries have seen Greek history and may not help, especially concerning the 'running from the lion story' as related in the article.  Greek citizens are more than a little upset at their Gov't's taxation and cutback plans.

The American cable TV economic/political commentator, Glenn Beck, predicts financial chaos if the American Gov't does the same as Greece to try and fix the economy.

More fuel for the fire.  So, I agree with you Azorus.

--Lee

I got more info on silver today.It seems to me if an american bank like JP morgan can short 20-30% of the silver in the world and keep the price down for the past 15 years.Then they should be able to keep the price down for the next 5 years too.It depends on what the bank wants to do.Remember before JP Morgan it was AIG.triffid

The real problem with this is food and water and or heat when your state/feds fail to spoon feed you what they have denied you for so long. 99.99 % of the population cant fend for themselves via food or power. Ask yourself this, can i provide and live for 12 months on my own and provide for my children, and after that

Quote from: X00013 on March 20, 2010, 12:15:57 AM
...Ask yourself this, can i provide and live for 12 months on my own and provide for my children, and after that

I agree.  If people aren't self-reliant, the whole world will end up looking like the movie, "The Road", with Viggo Mortenson:

http://www.theroad-movie.com/

--Lee