Azorus said:

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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.

As with many things nowadays, the economy has several worsening threats:

http://finance.yahoo.com/banking-budgeting/article/109211/state-debt-woes-grow-too-big-to-camouflage

The whole article says it all.

--Lee

  Talking about growing stuff and bankowned properties.   Banks are now abandoning their properties.  The municipalities are taking over pocession of the properties because the banks are unable to make the tax payments on them.  Besides that they are becoming public health risks due to rodent infestation and homeless people living in them without running water.  Never mind yachts and house boats abandoned at Marinas up and down the coast turning into algae and barnacle farms.  Seems the paper pushers never really had anything to begin with besides paper.  They had everyone in their maintaining their property and paying their real estate taxes but they got greedy pumped up values sold paper listing bad paper as an asset and the balloon burst.  If you dont have the means to buy it today what gives you the idea you will have the means to buy it tomorrow.  You get rich providing a needed product or service fine you get rich running scams like insurance and credit tough luck get a real job.  To hell with the trickle down economy lets poor it in at the bottom and let the cream of the crop bubble up to the top.

Thanks for the article big.  Like it has pointed out there are many finacial "bombs" that have had there fuse lit, but haven't gone off yet.

Quote from: Azorus on March 31, 2010, 06:10:55 AM
Thanks for the article big.  Like it has pointed out there are many finacial "bombs" that have had there fuse lit, but haven't gone off yet.

Yeah, true.  Even if things appear to be improving, people usually aren't looking at distinct elements of the overall picture and how they relate to each other.

This is not a good idea.  Unpleasant surprises are possible.

--Lee

Heres some unpleasant surprises.I got the news tonight that gas will go up to $3.75 a gallon within a year from now.War with Iran in 1 to 1 1/2 years.The dollar will lose 50% of its value within a year.This and more details on a set of cd's at this website.The elite that rule the world told him whats going to happen in the next two years.triffid
http://www.prophecyclub.com/