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In the latter part of July, I wrote a post entitled "Plummet." I said: I'd say that he's about in the middle of that dive, mostly because people are figuring out that he really doesn't understand the economy. Wait till the foreclosure data begins anew. I'll write a post called "Tank" at that time. It's coming...High U.S. unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, monthly data from the Equifax Inc credit bureau showed on Monday.Among U.S. homeowners with mortgages, a record 7.58 percent were at least 30 days late on payments in August, up from 7.32 percent in July, according to the data obtained exclusively by Reuters. August marked the fourth consecutive monthly increase in delinquencies, and the report showed an accelerating pace. Government incentives often have unforeseen effects because they falsely stimulate the market in unsustainable ways. Take the Cash for Clunkers program, which has now exhausted the market. It happened like a sugar rush, with all of this trumped-up activity spurred by government giveaways (aka your tax dollars), and now that it's over, fatigue.Super Genius. |
by Brett Rogers, 9/24/2009 10:21:35 AM
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I believe this would be Nouriel Roubini's "Double Dip". Bernanke and Geithner keep spreading sunshine and rainbows, hoping nobody will notice the facts. |
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