No FearMongering here! I am just simply posting the FACTS... It's said that a picture is WORTH a thousand words! You decide for yourself. If you still don't believe me, than by all means start researching it for yourself. Google credit crisis, derivatives crisis, financial crisis, etc. It's also said that knowledge is POWER! I'd say that it is time to start empowering yourself.
I am a former stockbroker. I have been in love with Wall Street my entire life. I am a Capitalist with a heart. However, I am quite disenchanted with the abomination they have created in the markets. Nevertheless, I still read and watch CNBC everyday, plus many other sources. It's become second nature for me to research, investigate and remain informed. I highly recommend you do the same so that you too can become aware of the state of the economy. Because it does affect you.
With that being said, you don't have to come from Wall Street to see the RED FLAGS ALL around you. Just start comparing your grocery bill weekly than monthly. Start paying attention to how much it cost you to fill up your gas tank weekly than monthly. Start paying attention to all of the 'For Sale' signs in your neighborhood. Start paying attention to the number of vacant homes in your neighborhood. Start paying attention to how much money you have left over every pay period after all of your living expenses have been paid.
This is what I am referring to when I say that America will be brought to her knees and when I refer to the economic tsunami that is coming our way. What our country faces is like NOTHING we have ever experienced in the history of our country. You can all thank Wall Street for creating the derivative virus, the exotic investment vehicles (SIVs, CDOs, and MBSs) that are tied to mortgages. You can also thank the Banksters for causing the debacle and loosening credit to such an extreme that even your dog fido could qualify for a mortgage with a social security number. By year end, expect the financial markets to be disabled, ergo the stock market, ergo the economy.
Lenders are already holding HUGE inventories of properties they have foreclosed. Add to that foreclosures growing exponentially. Add to that home builders who are stuck with homes they cannot sell... Ask yourself, what is going to happen with ALL of these vacant homes? Who is going to maintain them? How will that affect your community? Who is paying for the properties taxes the state receives? Where are all of these homeowners going to go live? Then on the flip side, what WILL happen when everybody associated with this debacle decides to have a fire sale and start dumping properties for pennies on the dollar? How will that affect our economy? How will that affect you?
Please click here to read an article written by Tim Iacono of Seeking Alpha, comparing some of the Case-Shiller charts describing the U.S. economy.
Please click here to watch a 2 minute video given by Jim Jubak giving a simple explanation of the current crisis and our response to it...
and last but not least, click here to read this very detailed article titled, "Speculative Onslaught. Crisis of the World Financial System: The Financial Predators had a Ball, Financial Tsunami, Part V" written February 23, 2008.
No comments:
Post a Comment