Foreclosure News in Review

13 Oct

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PRETENDER MENDERS: GOVERNMENT IGNORES THE ELEPHANT IN THE LIVING ROOM — DOW HEADED FOR 8,000?

Starting with the Clinton and Bush administration and continued by the Obama administration (see below), the public, the media, the financial analysts, economists and regulators are uniformly ignoring the obvious pointed out originally by Roubini, myself and many others (Simon Johnson, Yves Smith et al). We are pretending the fix the economy, not actually doing it. The fundamental weakness of world economies is that the banks caused a drastic reduction in household wealth through credit cards and mortgages. Credit was used to replace a living wage. That is a going out of business strategy. The economies in Europe are stalling already and our own stock market has started down a slippery path. The prediction in the above-linked article…

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One Response to “Foreclosure News in Review”

  1. Rita Thomas October 13, 2014 at 7:11 pm #

    thanks mark … still looking for keywords. smiles Date: Mon, 13 Oct 2014 22:12:42 +0000 To: rita1thomas@hotmail.com

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