US foreclosures a mess
by diamondiiz 19 Replies latest social current
-
-
jwfacts
I cannot comprehend the level of greed and criminal behaviour that underlies the American economy. To prevent such ongoing corruption, an example needs to be made of Wall Street through prison sentences. American has a huge prision population consisting mainly of the under privileged, when the corrupt wealthy are just as guilty of destroying peoples lives, yet by far the majority get away with no recompense.
-
designs
Goldman Sachs and Lehman Brothers were selling Mortgage backed securities all over the world and building huge Short Positions at the same time.
Did they go to Jail..........
-
GOrwell
@designs: heck no; that's called great trading.
-
the prisoner No 6
Hi Diamond, watched that Vid you posted I could not believe what I was watching, thankyou for bringing it to our attention, the USA are really in the shit, I had no idea just HOW bad the housing market was in the States, and the resultant knock on effects to the rest of your economy,HOW THE HELL was that level of corruption allowed nationwide ????? and why isnt Obama going after the banks the same way he demonized BP.ONE MILLION foreclosures every year, with no legal documentation ????? Where was the regulator in the US when all this was happening ? YOUR ECONOMY IS WELL AND TRULY F----D
-
Aussie Oz
That was amazing
all the freakin' linda Greens!
FRAUD!!!!!
i feel so sad for the americans caught in this disaster
oz
-
Slidin Fast
If you want some amazing, infuriating reading on the mortgage scam industry that nearly brought the world's economy down try The Big Short by Michael Lewis. This is an astonishing read.
-
the prisoner No 6
@ Diamond, What are your financial analysists making of the current foreclosure problems in the USA, with regard to economic growth and recovery in your country ? and do they have any further ramifications for us here in Europe,? Obama has been reported as saying confidence is returning to the US markets, how can that be when your economic growth is so dependent on your housing sector , and thats going down , What is the outlook for your average US citizen, are you dreading whats about to happen with Obamas new austerity package ?
-
botchtowersociety
I cannot comprehend the level of greed and criminal behaviour that underlies the American economy.
Well, this helps raise the blood pressure:
http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20110511
-
diamondiiz
I'm in Canada so I'm not totally affected by us policy. Obama austerity package is a joke when you consider they're running something like 1.4 trillion deficits a year and have 14.3 trillion debt on a national level which doesn't include unfunded liabilities which some put at additional 30-50 trillion. Because commodities are traded in US dollars, the whole world is affected by what happens with US economy and their currency. Short term is anyone's guess but long term I'm very pessimistic.
My opinion is to have your finances in order and have some garden which will help you with soaring food prices as well as buying some physical gold during correction just in case. While many may view this as extreme, I feel it's better to be prepared just in case as US debt is unsustainable at the time when foreigners are lightening their load on US debt, Japan is going through rebuilding after a major disaster and inflation is increasing globally.
Housing bubble made many citizens poor, national debt bubble will make the whole nation(s) poor.