The Darkest Storm is About to Descend - You Can't Imagine the Carnage

Quote from capmac:

Delinquencies, foreclosures rise to 10 percent of US home loans in third quarter.
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Well of course. Feds are saying they are going to help "distressed" (AKA irresponsible) homeoners. And if the current batch of Give It All Away politicians fail to do so, the next batch is even more generous.

Only suckers pay their mortgages. Get on The Government Gravy Train! Aaaaaaaaaaallllllllllllll aboard!
 
Quote from TGregg:

Well of course. Feds are saying they are going to help "distressed" (AKA irresponsible) homeoners. And if the current batch of Give It All Away politicians fail to do so, the next batch is even more generous.

Only suckers pay their mortgages. Get on The Government Gravy Train! Aaaaaaaaaaallllllllllllll aboard!
More...

The lawmakers are not allowed to sort out the irresponsible from the good guys that are just having some bad days, it would be profiling!!
 
I honestly believe we are about to experience the worst economic conditions in the U.S. since WWII.

It is going to get absolutely brutal, and Americans are going to see and experience things over the next several years they never thought possible during the milk & honey days of just a few years ago.
 
Quote from dandxg:

Let's not forget Greenspan. He made money free to borrow and unregulated. But hey unregulated capitalism is good right?
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oh yes, and him too

Idiot-span
 
Quote from ByLoSellHi:
I honestly believe we are about to experience the worst economic conditions in the U.S. since WWII.
It is going to get absolutely brutal, and Americans are going to see and experience things over the next several years they never thought possible during the milk & honey days of just a few years ago.
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I don't think so.

There is NOTHING paper money cannot fix.
 
US foreclosures spike 81 pct in 2008: RealtyTrac

Thu Jan 15, 1:15 am ET

WASHINGTON (AFP) – US home foreclosures, the epicenter of the global financial crisis, spiked 81 percent in 2008 despite efforts to slow the "tsunami," a data tracking firm said Thursday.

National foreclosure filings -- default notices, auction sale notices and bank repossessions -- totaled 3.16 million and were reported on 2.33 million properties last year, said RealtyTrac, an Irvine, California-based company.

One in 54 housing units, or 1.84 percent of all US housing units, received at least one foreclosure filing during the year, up from 1.03 percent in 2007, the firm said.

In December alone, foreclosure filings spiked 17 percent from the previous month to 303,410 properties. That was nearly 41 percent higher than in December 2007.

http://news.yahoo.com/s/afp/20090115/bs_afp/financeeconomyusproperty_20090115061801
 
Quote from prof. charles:

So you say this is public information, yet you don't think the market has priced this all in? You think you are smarter than the market?
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This is one of the dumbest often repeated slogans out there. Of course there are people "smarter than the market". Ninety percent of the people in the market are idiots who don't know their asses from their eblows and when Crude was $150 they just knew it was going to $300 and the world was going to blow up. When housing prices in Florida went up 20% per year they just knew that prices never went down and that this was the start of the "new dynamic because of the baby boomer" and so like a bunch of sheep they bought in, and now they are screwed. If you can't be smarter than the market, eventually your fucked. Simple as that.
 
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