St Alphonso

Prime Mortgages Are Also Going Sour

If massive fraud ends OK this will be fine; however, it doesn't. Massive fraud ultimately ends in disaster. Massive fraud took place, is taking place this minute, and will take place tomorrow. We are defaulting on every kind of debt and this depression may still go as badly as the last. Since we didn't learn anything from S&L except how to cheat on a much grander scale, and how to corrupt the whole system so not only no one goes to jails, Capone is rewarded with a golden parachute. Never been a better time for white collar crime.


On Aug 20 11:00 PM gabe borenstein wrote:

> So Americans are defaulting on the Prime Mortgages as well?
> What does it mean for recovery? not really much.
> Since unemployment is a lagging indicator,it is therefore quite clear
> that the initial stages of the economic recovery will have a marginal
> impact on the employment .
> Until employment picture improves(shortly) ,mortgage issues will
> exist.
> As the expansion gathers momentum the unemployment will decline geometrically
> .
> We will see a noticeable improvement in the figures by the mid of
> the fourth qtr.
> In the meantime ,carefully injected measured liquidity will continue
> to enhance economic momentum.
> The fourth qtr growth will come in at 4.5%(seekingalpha.com/symbo...).
>
> Inflation is not an issue as thisexpansion willnot be driven by demand
> pull forces.
> Let's sit back and enjoy the stock market rally.
> Periodically ,we will have to deal with market paranoia(volatility)
> driven by the gurus of the past who had failed to predict this rally.
>
> Mortgage delinquencies ? they are about to decline