The Only Question That Really Matters

2010 January 14
by MFG

Can we survive financially?

HT: World Net Daily

from → Uncategorized

3 Responses leave one →
  1. 2010 January 14 7:00 pm
    [1]
    rightwingyahoo permalink

    We could, if people like our founders were elected, and the citizenry faced it’s obligations and stopped holding their hands out.

    But neither of these will happen. So, the crash is just a matter of time. 15 months after the death spiral became impossible to deny, we are all sick to death of talking about it.

    But it will come, and what will rise from the ashes? More than one country, I am afraid. A minimum of 2, and maybe, 3…….

    Sad but true.

    Or, we all mortgage our land to the world and join the EU. I’d rather crash.

  2. 2010 January 14 7:42 pm
    [2]
    rightwingyahoo permalink

    NO. The answer is no.

  3. 2010 January 14 10:09 pm
    [3]
    drdog09 permalink

    “The Wall Street titans thus conceded they did not foresee the housing bubble ever bursting and they did not consider the possibility of a collapse in value of the sub-prime mortgage securities piled up on their books.”

    If that was the thinking then they were fools. Half of the securities offered would devalue to 0 if there was but a 1% increase in the foreclosure rate. And that is exactly what happened. The industry was offering mortgages to anybody that could fog a mirror and so the foreclosure rate went up and the rest is history.

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