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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: John Vosilla who wrote (50450)	5/3/2006 8:13:20 AM
From: russwinter	Read Replies (3) of 116555

it is the US banking system that is strongest of all .> Smoke and mirrors, tiny loan loss reserves, right at the point when foreclosures and deliquencies are surging. xanga.com Southern California, for instance, saw a 33 percent jump in notices of default, from 8,330 in the first quarter of last year to 11,102 in the first quarter of this year. Confirmation from Accredited Lending: “Delinquent loans (30 or more days past due, including foreclosures and real estate owned) were 2.85% of the serviced portfolio at March 31, 2006, compared to 2.47% at December 31, 2005 and 1.72% at March 31, 2005.

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