Pay No Attention to the Recession Behind the Curtain
January 22nd, 2008 at 05:26pmThe Fed cuts interest rates by 0.75%, markets around the globe take big hits over night and Heath Ledger dies; what else could possibly go wrong? How about a 421.2% increase in the number of foreclosures in California over last year during the 4th quarter. Default notices were up too. Some might argue we have already cannon-balled into the recession swimming pool and haven't realized it, but I think we've got our feet in and are just waiting to jump in all the way. Things might turn around, but looking at the housing situation I'm not optimistic for this year. Mortgage resets peak later this Spring and until the bad loans get cleaned out of the system there's no way to know when and how low the bottom will hit. All I know is I'm going to start saving so I can buy a house when that time arrives.
I might base my Presidential vote on which candidate has the best grasp of what is going on with the economy and what they plan to do about it.
1 Comment Add your own
1. nathan118 | January 23rd, 2008 at 7:42 am
Then you better be voting for Mitt Romney! :)
I haven’t read about all the great things he did while working in business, but everything I hear is stellar.
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