Mortgage Crisis Pain Not Over......

[BigHornRam]

according to 60 Minutes segment. Good read........

http://www.cbsnews.com/stories/2008/12/12/60minutes/main4666112.shtml

 

[cjcj]

I agree... lots of jobs being lost... not good

 

[BigHornRam]

I can agree that commercial real estate is the next segment to take a big hit......

Do you agree with guy's analysis, that the stock market has hit bottom, and there's a lot of good buys out there right now, CJ?

 

[cjcj]

No, I don't....We are not near bottom I.M.O. We have deflation right now.[ some area's].. but when all that printed money hits mainstream banks [ next year] we could see Hyper-inflation...that will cripple the economy...as "real wages" will not sustain current lifestyles.....we have low,low % rates .... but are a trillion in debt...... got to give the Big 3 a bail-out/loan....I don't see any clean-up of Fed/State gov't wastefullness... so its inevitable things will get worse.....I'm sure there are good buy's out there.....Land/houses/ buildings....

 

[BigHornRam]

You've been listening to Glenn Beck, haven't you.. Agree with you on the hyper inflation part CJ. I think we're in for a long rough patch.

 

[cjcj]

Have not Heard Glenn Beck in quite a while...I tune in when I hear he is talking about the Illegals.... but form my own opinions about the economy....I am currently taking care of my Mother/father [both 83] so I can't get involved with too much politics and stuff... canceled 3 poker tournies in Vegas this month... and it snowed up there....thats pretty cool