With 1000s of mortgage and credit card defaults and the stock market plunging, are we headed for a depression?
1000s of people are losing their jobs to "outsourcing"
homes are going into forclosure at a record rate.
wages are not increasing
it is dismal and looks worse every day
Answer:
The mortgages that are being "defaulted" on should never had been given in the first place. Adjustable rates, what a crock of doo-doo they are. Credit Card defaults are about the same level as they always have been. Now we have Gary Coleman advertising "Call Cash" that has a 99.25% interest rate. (look at the small print on the bottom right of your tv screen) People will fall for that. If they borrow $100. they will owe $199.25 the next day. What needs to be done is for each city have a "stupid class" and send people there.
So much for my rant!!
Nope not even close ,The media only reports bad news.They don't want you to know the economy is good. When the Dow reached over 14000 I only heard a small blip about it.When the Dow dropped they are bringing in people to discuss the free fall.It's the same with Tabloids Why do they sell so many?/? Because people love to hear bad stuff about other people because it makes them feel good about themselves. YES we are a screwed up bunch of people
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