Relevant:
- US Dollar already went off a fiscal cliff -- what does a falling dollar mean to US families? Masking de-leveraging via debt markets.
- Subprime Early Payment Defaults Are Back... in Credit Cards
- 37 Facts About How Cruel This Economy Has Been To Millions Of Desperate American Families
- America Without a Middle Class
- For the first time, Britons' personal debt exceeds Britain's GDP
2008-09-22 — chicagotribune.com
"Lost in the headlines are the families who signed their names to subprime mortgages, not knowing or caring that the pieces of paper they signed would become one of the cards in the house of cards that now threatens the U.S. economy. No less visible are the people who have lost jobs as the economy reverses, the students who can't pay for college without taking on ruinous loans and the millions of families who turned to credit cards and payday loans as they have been caught in the squeeze between declining wages and skyrocketing costs. They are casualties of a financial system that saw them not as customers, but as prey."
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Comments:
mortgagemess at 07:02 2008-09-23 said:
America needs to prepare itself for the countdown..we are on a economc spiral that the government cannot fix..we are going broke..not as individuals but as a country..we need to be prepared that our dollar will be worthless...you don't believe it..then why did the stock market go down by over 300 points today? why has oil gone up? Has the annoucement of us printing money like its going out of style helped the market? Has credit gotten easier or a companies panicking as they cant find capital to continue business as usual?...simply because the hype is over and the world financial wizards and economists know what is going to happen. Permalinkadd a comment | go to forum thread
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