Reader GG spotted this sobering piece: Corpse of a Thousand Houses. More foreclosures will soon be flooding the market, further depressing the housing market. This is the negative feedback loop (aka “death spiral”) that I’ve been warning about since late 2006.
From El Jefe Jeff E.: US large-loan bank losses triple to $53 billion; Regulators say US lenders expected to lose $53 billion in 2009 on loans larger than $20M. Jeff’s comment: “53 Billion is a lot to lose, and they were ‘surprised’ by the losses….I wonder what else is lurking that will cause these banks more surprises.”
Also from Jeff E.: Economists React: “A Surprising Decline” in Orders
Reader Mike W. sent this advice from The Motley Fool on the US Dollar: Get Out Now!
Items from The Economatrix: