The Miracle of the Bush Economy, cont.
The always excellent Jay Midnight has rounded up some depressing clips and analysis on the second wave of mortgage collapse that is about to hit us.
I think we are all aware that some adjustables have time-triggers built in to them, and so it seems unavoidable that some are due to adjust soon. Keep listening for Alt-A and Option-Arm mortgages, they are next up at bat. We are probably only about half-way through the mortgage crisis.
How can the solution for debt and consumption be more debt and more consumption? How can that be the solution to our problems?
–legendary investor Jim Rogers
More cowbell!
[...] Mock Paper Scissors: A second wave of mortgage defaults is about to [...]
And don’t forget commercial real estate. It’s unraveling really quickly. But somehow my bastard landlord managed to refinance or something with some of his properties. The building I am in appears to be safe since it’s his cash cow. And why not–high rents, no services.
meanwhile, back at the Bush mansion in Dallas
yeah, i bet u bush planned out 9-11