Booms, Busts, and Recoveries Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ilaine who wrote (71319)	8/23/2009 11:53:50 PM
From: Maurice Winn	1 Recommendation of 74559

That's interesting CB. And that's without interest rates zooming, or even going up somewhat. Given the scale of the financial carnage, it seems unlikely that after two years things are fixed up enough to get back to "normal". Mortgages are normally a 20 year project and when people have gone way in over their heads, with the presumption that employment and economic activity would continue apace while 6 billion other people on lower pay undercut the overpaid, and outbid for resources and goods produced, they are probably looking at a permanent loss of financial standing. Because of the phenomenal technological revolution, in absolute terms they should still be much better off than people were 100 years ago, but it won't feel that good to them. Mostly they won't starve to death. People used to do that. But they might have to get jobs which earn them a loaf of bread and a bag of beans a day. Mqurice

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next