Reader Vanya O. wrote to ask: “When do you expect that the MOAB will end?”. I expect the MOAB to drag on for several more years–and possibly a full decade–reaching absurd proportions. States, counties, and cities, and pension funds may eventually be bailed out by Uncle Sugar. That last stage of the MOAB may very well culminate with a direct bailout of individual subprime mortgage holders. Yes, it will be your tax dollars at work: Paying off the mortgages held by your NINJA neighbor, who for the past few years has been living in a house that he could never afford to begin with!
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DCB sent us this article link: Panel: Biological warfare attack likely in next five years. (Yet another reason to move to the boonies!)
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Eric mentioned this sage advice from veteran financial analyst Marty Weiss: Starting Now: America’s Second Great Depression
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Eric also sent a link to an obviously slanted Associated Press article that casts the preparedness movement in a bad light: Survivalist business booms as economy flails Thankfully, the article only quotes me briefly and withholds any disparaging remarks about SurvivalBlog.
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Yea, the MOAB doth groweth as was foretold: Feds to expand rescue. And from The Economatrix comes these articles: Wall Street Rebounds Sharply After Yesterday’s Selloff — Ford Asks For “Stand-By” $9 Billion Line of Credit (that it thinks it won’t have to tap) — GM Says it Needs $12 Billion in Loans by Late March — Arnie Says California Almost Broke — Oil Drops to as Low as $46/Barrel — Bond Risk Surges to Record on Concern Slump “To Hard To Fix” — Monday: Fourth Worst Drop Ever for Dow — Delinquent Mortgages Set to Nearly Double in 2009 — Laughable “Loans” to Prevent the Bust (The Mogambo Guru)