Tuesday, Sep 23, 2008
Sure, but They DON'T CARE!
The Market Oracle: Recommendation to Congress Not to Spread Financial Panic
I've always found M. Weiss to be very pragmatic, prudent and reasonable with his market analysis, and he's been saying since 2001 that things are very bad - he probably just wasn't privy to Government machinations. Anyway, some very scary debt figures here based on his analysis, with recommendations to Congress on what to do. But, IMO they aren't interested in sorting America out, nor the global economy, so if these 'shoes' drop...
"There are currently $14.8 trillion in mortgages in America. But beyond mortgages, there is another $20.4 trillion in consumer and corporate debt. This means that mortgages represent only 42% of the private-sector debt problem in America."
Posted by layers @ 04:35 PM (229 views) Add Comment
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