12-11-2008, 09:17 PM
I found this recent article very interesting. Of note:
I never knew that. Considering the sheer number of citizens here in America and the value of homes, we're got to be talking trillions of dollars in bad loans. Wow! How are banks suppose to recover from that? I don't mean to preach doom and gloom, but if this report is accurate, then the economy and jobless rate will only get worse, meaning when that $700-billion bailout hits the taxpayers, those working will have to shovel out even more to pay for this mess, which could conceivably cause even more job losses. I donât try and rely on my yearly tax-return, but this year, Iâm hurting for it, and if instead of getting a fat check back from the feds, I get slammed with an IOU, Iâll be screwed! This whole situation just sucks!
Quote:One in every 488 U.S. households got a foreclosure filing last month, according to the Irvine, California-based research firm. Filings include notice of default, auction sale or bank repossession.
I never knew that. Considering the sheer number of citizens here in America and the value of homes, we're got to be talking trillions of dollars in bad loans. Wow! How are banks suppose to recover from that? I don't mean to preach doom and gloom, but if this report is accurate, then the economy and jobless rate will only get worse, meaning when that $700-billion bailout hits the taxpayers, those working will have to shovel out even more to pay for this mess, which could conceivably cause even more job losses. I donât try and rely on my yearly tax-return, but this year, Iâm hurting for it, and if instead of getting a fat check back from the feds, I get slammed with an IOU, Iâll be screwed! This whole situation just sucks!
"The true value of a human being is determined primarily by the measure and the sense in which he has attained liberation from the self." -Albert Einsetin