A few days ago I criticized the Repub for defrauding investors for permiting trading in the stocks of Fannie mae and Freddie Mac.
Today its was announced that 9 percent of mortgages are late or delinquent. Astoundingly, One of eleven mortgages are bad.
When those people become homeless, things will get much worse.
The cost to the economy and to us taxpayers for all the bank bailouts that will follow will place the US on the verge of bankruptcy.
Homeprices are going to continue to decline, which means more mortgages will be upsidedown (where the mortgage is larger than the home value). That will result in even more people walking away from their mortages, and HOME PRICES WILL DECLINE EVEN FURTHER
for years. . . .
and revene from property taxes will continue to decline, robbing our already short-changed schools of much needed revenue, so our children will pay the price of government lack of regulation
Register to vote, and send Voltage to play at the Democratic National Convention. We have songs that are perfect for the event already written, and I am already the number one democrat at the DNC.Read More »
The following is an analysis of the Bush Administration and its deficit spending as of June 2003. I am looking for more recent information. In the meantime, I have a question. How wold increased deficit spending under a Democratic administration be effective in dealing with a steepening recession and the problem of stagflation? http://www.ctj.org/html/debt0603.htm
The news is bias. Quit watching. The goal is to make money- not to inform. Do you know what COINTELPRO is? Here are two links that might help you out.