Monday, July 14, 2008


I just read this very disturbing line on

"As long as more homeowners default on mortgages, losses to financial institutions will mount. Those losses already exceed $400 billion, and some analysts believe they will top $1 trillion before the housing carnage is over. By comparison, Congress has authorized $650 billion so far to fight the Iraq war."

So this article suggests that Americans have already busted $400 billion - and we've only spend $650 billion on the war? And now all this crazy stuff with Freddi and Fannie.... maybe we need to let the collapse. Isn't that pure capitalism anyway?? Some businesses fail and others survive? I'm not hoping for something like a depression, but maybe losing a few giants wouldn't be such a bad thing... maybe it should shake things up enough to make people realize what they can actually afford versus what they can make payments on.

Should be fun to see what happens in the next few months.

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