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US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

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Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

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Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

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Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

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World economies on verge of currency revaluations to deal with debt

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Is Obama the next Mugabe of Zimbabwe?

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FDIC wants your retirement cash to save banks: Bloomberg

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Content By: The Coming Depression Editorial Staff (dates cited below)
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house for sale sign

The longer the government continues to distort the underlying economics of the real estate market, the longer it will take for the sector to heal itself – and the longer the sickness will infect the broader economy.


The United States is in a very precarious situation. Obamarama needs the Fed to print up another 1.9 Trillion dollars this year. The Fed has already bought up a huge amount of questionable mortgages and is holding them from market. Also besides that, the US is shooting themselves in the foot by pissing off China, who traditionally has been buying US Treasury Bonds and Mortgaged Backed Securities. If they do not continue to do so, the US may be in some very serious trouble.

The second wave of the predicted double dip recession is about to happen. The only thing that will fend that off, is the American involvement in a new war, ie Iran, by the way, arms and munition sales have hit records worldwide, not generally reported in the mainstream media. Largest arms producers, US, Russia, Germany, and France. US supplies Israel, Saudi Arabia amongst many others. Russia supplies Iran and China, amongst many others. This industry is not generally included in any economic discussions.

mortgage chart second housing crash

Peter Schiff: ‘Very good reason’ to believe home prices will collapse

The following is an opinion piece written by Peter Schiff, president of Euro Pacific Capital.

The latest housing initiative announced today by the Obama Administration draws the U.S. government and, by proxy, all taxpaying Americans, further into the inescapable quagmire of a devastated real estate market.

By transferring more underwater mortgage balances onto the public books, the plan puts taxpayers on the hook for further losses if housing prices continue to fall. Given the massive support for real estate already afforded by record-low interest rates and massive federal tax and policy incentives, there are very good reasons to believe that home prices will indeed collapse when these crutches are removed. Recent spikes in long-term interest rates warn of this prospect.

If the Administration had allowed losses to fall where they rightfully belong, namely on those who foolishly loaded up on toxic mortgage bonds, then the housing market would have already found its true clearing level. Instead, every measure is working to prolong and delay the ultimate reckoning, while setting up taxpayers as the patsy. Given the horrendous government deficit projections for the next several years, any losses incurred by thegovernment mortgage portfolio may add a critical stress on America’s fiscal viability. Read the rest from Peter Schiff

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This entry was posted on Thursday, April 1st, 2010 at 6:10 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 Comment

  1. April 8, 2010 @ 10:14 pm


    Peter Schiff was talking about all these things long before running for the Senate thank you very much. Didi you mention that?

    Posted by Dan2avp

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