Reader Bill R. liked this piece by Brett Arends: The Great Mortgage Mystery. The article begins: “The big question from the mortgage meltdown isn’t why so many distressed homeowners are defaulting on their loans. It’s why any of them are still making payments.” Oh, and FYI, here is a list of non recourse (“mortgage walkaway”) states.
27 Signs That The Standard Of Living For America’s Middle Class Is Dropping Like A Rock
Siggy recommend this white paper from QB Asset Management: Who is John Galt?
Susan H. sent this: The 19 Countries Most Likely to Default: Ireland Surges Higher
Frightening Charts Show Record Low Revenue, Worst-Ever Austerity Measures For US Cities. (Thanks to P.D. for the link.)
Jonathan C. sent this sad tale of The Fed, inflation, and the devaluation of the dollar: Fed Needs to Pump Trillions More Into Economy: Analyst. Jonathan’s comment: “It seems to me that if we hit a point where the Fed decides to make an additional $6 – $7 trillion in U.S. debt purchases, it might be time to take a drive out to the retreat and double check inventory and accessibility…”
B.B. spotted this: Review & Outlook: Shutting Up Business
Items from The Economatrix:
Are Apocalyptic Events Closing In On Us?
Stocks End Flat At The Start Of Busy Earnings Week
Poll: Weak Economic Growth Expected Through 2011
Foreclosure Freeze Could Undermine Housing Market
Survey: Investors Fear Government Far More Than Inflation, Terrorism