Anyone see 60 Minutes tonight? It appears that the next wave of Option ARMs will reset early in 2009 and even more people will be losing their homes. More banks will be needing a bail out and America will be in a bigget financial hole than we're in now.

Add to that the same insanity that occured with home mortgages happened with commercial mortgages and that industry is about to collpse too.

Well, I guess George Bush and the Republicans got what they wanted, the elimination of the Middle Class.

Warren

 

are we really ready for 0% fed rate?

 

Hey W is no genious, we get it, but it's really the dems fault for presuring banks to soften credit and loan money to folks who really weren't qualified in the name of better housing for the huddled masses.
And, it's the folks who overbought themselves into houses they couldn't afford too.
There is a lot of blame to go around, but Bush is not the proximate cause of this problem.

 

Exciting news

 

Food shortages. Job marches (protests). Gasoline riots.

Basically pretty grim stuff.

http://www.youtube.com/watch?v=46MEqEgdLTg (Gerald on Fox Business)

More from someone else (Peter Schiff : http://en.wikipedia.org/wiki/Peter_Schiff)

http://www.youtube.com/watch?v=pGHODRNJqRo

http://www.youtube.com/watch?v=WVDzQU311tc

http://www.youtube.com/watch?v=2I0QN-FYkpw

And another one...
http://www.youtube.com/watch?v=4n3g5lUgkWk

 

I guess this is a chance for everyone to start over clean slate. Everyone has equal income, which is nothing. If that's the case then I'm all for it. I got nothing to lose/gain. But again, the middle class always gets screwed in the end no matter what happens.

 

Everyone is at fault and there was no crucial decision that lead to the situation, but there is an excellent argument to be made that Bush's actions (or lack thereof) were central. The problem came from numerous industries, consumer groups ect. Given Bush's history of appointing unqualified individuals to key oversight posts, his management style, and die hard (until late) adherence to Laissez-faire economic policies probably had a broad impact. Not quantifiable, but were likely more important than that of any specific policy but less than the collective policies pursued over the past 10, 20, 30 years.

 

Why do you think Obama has a press conference once a week to remind everyone that the economy is fawked up already He doesnt wanna be blamed for this sh*t a few months from now

 

Hey you wanna get a real idea of the disaster go to your local employment office and see how many companies are hiring!
I have not worked in almost 6 months and NOBODY is hiring !

 

such a go-getter