A recent headline grabbed my attention. It mention the “bottoming” or real estate price. That made me chuckle, because we are nowhere near the bottom yet. I did some searching, and I found a chart posted last year at the Calculated Risk blog [1]. If you thought the subprime mortgages caused a lot of foreclosures, just wait until the Option-ARM resets peak in 2011. Methinks that things are going to get a lot worse before they get better.
Reader HPD mentioned this at Forbes that quotes Peter Schiff: CPI Rises Despite U.S. Recession [2]
GG sent this: Merkel adviser warns US on inflation spiral [3]
Items from The Economatrix:
House Approves Bill to Slap 90% Punishing Taxes on AIG Bonuses [4]
France Braced for Huge Street Protests Over Economic Crisis [5]
The Federal Reserve is Now Playing a High-Risk Game with Inflation [6]
AIG Will Not Exist in Four Years, Says Chairman [7]
Gold Futures Rise to 4% on Fed Announcement [8]
Fed Launches $1.2 Trillion Effort to Revive Economy [9]
Consumer Prices Rise 0.4% In February [10]
Rogers: US Bailouts Add Risk to Depression [11]
Dollar Crisis in the Making (Pt 3): China Inoculates Itself Against Dollar Collapse
Value Cross-over [12] (The Mogambo Guru)