The Mortgage Bankers Association reported that more than 13% of American mortgage holders are either (a) delinquent on their payments or (b) in the process of foreclosure during the second quarter of 2009. That’s the worst number since the MBA began keeping stats in 1972.
California is at 15.2%!
I cannot imagine an economic recovery with this many people about to lose their homes.
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{ 5 comments… read them below or add one }
Well said
The stock market may be having a ‘V’ shaped recovery, but the economy is having an ‘I’ shaped recovery. I believe that within a few weeks at most, the stock market will wake out of its delusion and follow the economy down.
Not so strange that you are touting the LVS stock after you purchased the Calls. Now you can sit back and hope that there will be enough new purchasers that your Calls will make you a profit. What about the little guys who buy the stock? (I know, they better watch out for themselves!)
Hello Tony
been following your advice and checking ….. impressive out of all of the brokers hitting the net with 1000% windfall stories from governmenet and private etc etc WEISS research hasnt lied or purposely told an untruth just good salesmanship presentation and links to your advice it is realy cool we are in Australia so we watch the aus $ move’s as we are trading only in AUS $ mainly physical precious metals will visit asia later this year and see and talk to connections and others there in HK, Malaysia,China,also in accordance with WEISS information our appreciation of asian investements
We are really enjoying your “NoBovineDung” approach
Hey Tony, greetings from a semi-retired old guy in the Missouri Ozarks. It appears that every one has gone nuts. No civilization has prospered with what we are doing. Yes, we will have to devalue the $. but why not talk about it openly. Could it be panic? Loss of power? or just plain lack of back bone. We have taught ourselves that there should be no pain, that gov’t will fix it all. It got us in this position and we continue to do the same things. I believe that is a definition of insanity.
I am making decisions this week to move more money into commodities, oil and precious metals. I do not like it, but have no idea what else to do. I already have land, cattle and a garden. But if things get as bad as they could.. I am afraid I will have visitors. Obama says share the wealth. I expect he/we will live to regret those words.