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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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caniff
Joined: 03 Feb 2004
Location: All over the map
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 Posted: Mon Dec 15, 2008 12:50 am Post subject: |
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As Jon Stewart might say, "Clusterf@ck to the Poorhouse".
The greed and short-sightedness displayed is/was astounding. I guess the mortgage brokers aren't feeling so great now that the party's over. |
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bacasper
Joined: 26 Mar 2007
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| Posted: Mon Dec 15, 2008 3:18 am Post subject: |
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According to that piece, we are halfway, or $500 billion, thru the $1 trillion subprime crisis, and the next wave of non-subprime stuff is $1.5 trillion which is set to begin in 2009. IOW, we are only 20% thru the mortgage stuff, and that does not even count other shoes about to drop, like credit cards, etc.
Sounds like fun.
He just didn't ask the most pressing question, namely if Korea will be able to afford to continue paying foreign English teachers. |
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seosan08
Joined: 10 Oct 2008
Location: Korea
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| Posted: Mon Dec 15, 2008 6:18 pm Post subject: |
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| 2009 to 2011 is the worst of it. Buy some commodities and hang on tight to them. Gold is your friend! |
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