"The danger was that the sub-prime collapse…"
It’s worse than these people know (or let on to). For every sub-prime loan, there are many highly leveraged investor-owned homes.
Average number of houses built in the 1990s: 100,000/mo.;
Number of foreclosures in July: 168,000;
Number of foreclosures in August: 244,000; plus
People still building new homes because of inertia and economic situation; and
Lending standards reactionary anal;
Supply spikes, demand drops, price drops faster, investors bail, cycle continues, lenders on the hook.
Hello Airstrip One banking issue. Check out the Federal Reserve site re: bailouts (press releases).
Print money, gold up, borrowing costs up, prices rising, no habla ingles- here’s the emergency room bill.
Miniplenty bellyfeel doubleplus ungood.
Dayorder blackwhite reserved for Big Brother.
Blackwhite by others doubleplus ungoodwise.
CAIR blackwhite doubleplus ungood.