Home Equity Loans as Next Round in Credit Crisis Don’t miss one key point that was buried near the end of the article: “…many people added second loans after taking out first mortgages, so it is impossible to say for certain how many homeowners have multiple liens on their properties.” Clearly, there are a lot of home buyers (I’ll refrain from calling them home owners, since it is the bankers that still hold controlling interest) that are getting “upside down” in their mortgages. Without a doubt, much more jingle mail is coming, as property prices continue their downward spiral.
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Just when we thought things couldn’t get any worse in Zimbabwe, the currency inflation rate has jumped to an “incalculable” level. SurvivalBlog reader J.M. mentioned the mind-boggling figure of 200,000%, per annum. (not yet confirmed–the last “official” figure was 100,000%.) Even more incredibly, Comrade Mugabe is on the fast track to re-re-election. Mugabe and his ZANU-PF party cronies have improved on the once-heralded “one man, one vote.” They have now apparently rigged “One party member, one hundred votes.” Just think of it as another form of inflation. Voter fraud is practically an art form in Zimbabwe. OBTW, I should mention that Zimbabwe’s printing press economy is not unique. See this slide show: World’s Most Worthless Money.
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Several readers wrote to mention that Backwoods Home magazine‘s upcoming issue (May/June) is a special expanded 116-page Preparedness issue. It can be ordered separately, if you don’t already subscribe. Backwoods Home is one of our perennial favorite publications.
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Karen flagged this: Census Bureau Estimates U.S. Population Continues Shift to South and West