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The stock market is about to crash. The only question is whether it will quickly drop down the elevator shaft or follow the jerky flight-path of a man pushed down a stairwell. Either way, the outcome will be the same; stocks will nose-dive, the dollar will plummet, and the bruised US economy will be splattered on the canvas like George Foreman in Rumble in the Jungle.
Troubles in the sub-prime market have just begun to materialize and already 38 main sub prime lenders have gone kaput. Foreclosures have reached a 37 year high, and an estimated 2 million homeowners will be put out on the street in the next few years.
And that's just for starters.
{"contentId":"620533","authorDomain":"aine"}
Mike Whitney: Velkomin to the United States of Foreclosure
News Type: Opinion — Seeded on Sun Mar 18, 2007 4:39 PM EDT
Article Source: Information Clearing House{"contentId":"620533","authorDomain":"aine"}
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- Public Discussion (5)
{"commentId":593228,"authorDomain":"djehuty"}
Stairwell, and slower than you might think ;)
{"commentId":593228,"threadId":"86016","contentId":"620533","authorDomain":"djehuty"}
- 1 vote
#1 - Mon Mar 19, 2007 12:30 AM EDT{"commentId":593240,"authorDomain":"aine"}
We'll know by summer's end, I'm thinking.
{"commentId":593240,"threadId":"86016","contentId":"620533","authorDomain":"aine"}
{"commentId":593301,"authorDomain":"ISPY"}
Stairwell and Faster than you think :)
{"commentId":593301,"threadId":"86016","contentId":"620533","authorDomain":"ISPY"}
{"commentId":593323,"authorDomain":"fscott"}
Thanks for posting this article. It's just not what I needed to read just before I go to bed tonight. Thoughts of potential poverty are not very good for inducing a restful sleep. I think we're going to face a mild recession in the United States by the end of the year, but I'm going to hold on to my blue chip stocks and ride it out. I'm looking forward to a wonderful 2009 - and I'll be riding the elevator up. :-)
{"commentId":593323,"threadId":"86016","contentId":"620533","authorDomain":"fscott"}
- 1 vote
{"commentId":1756936,"authorDomain":"muckraker462"}
Home owners need to check the headlines every day to make sure they're not dealing with a crooked lender who will sell their loans out from under them.
I found this new site which filters home mortgage headlines and other headlines about consumer fraud, defective drugs and product recalls. I can even embed a particular subject's RSS feed on my homepage and blog.
Check out www.the-feed-store.com and you'll see what I am talking about.
{"commentId":1756936,"threadId":"86016","contentId":"620533","authorDomain":"muckraker462"}
- 1 vote
#2 - Fri May 2, 2008 12:23 AM EDT{"canLink":false,"threadId":"86016","isPrivate":false}
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