The Big Picture on Gold, Silver, Real Estate, and the U.S. Dollar
I have come to the conclusion that the nascent implosion of the U.S. residential real estate bubble is going to have some far-reaching macroeconomic consequences. We are just starting to see the beginning of the real estate collapse. The adjustable rate mortgage (ARM) reset clock is ticking, and the home foreclosure rate is just starting to spike. I predict that in just three or four months, the housing market collapse will be just as big a news story as the Savings and Loan crisis of the 1980s. There will be plenty of hand wringing and finger pointing. The lenders that …