Showing posts with label Credit Crunch. Show all posts
Showing posts with label Credit Crunch. Show all posts

11.07.2007

As Bush's Empire "Rises", Ours Falls Drastically

Positive you don't want to impeach this entire Bush Administration?

Everytime he opens his mouth about Iran, the crude oil price per barrel skyrockets and his "economic" genius has created what is arguably a much worse set of financial circumstances for many Americans than what happened during in the wake of the 1929 stock market crash and the coming of the great depression. 439 days more is an AWFULLY long time.

From The New York Times:

Stock markets plummeted and the dollar sank to as investors grew skittish over rising oil prices and the prospect of a substantial U.S. economic slowdown.

What A Surprise: Mortgage Companies Are Padding Fees On Struggling Homeowners

I note that this Times article about how mortgage companies are playing fast and loose by tacking on extra fees and pretending to lose (to the point of destroying more than a half million dollars in checks to pay mortgages) payments. Countrywide, my former lender, is noted here and indicates it makes about $300 million a year just in late fees.

Ah, if you haven't heard, people in other countries are rushing their dollars over here to buy up foreclosed properties (including many homes and defunct subdivisions-in-the-building) what with the American dollar taking a hit all over the place. Even Canada is here buying up things since, for the first time ever, the Canadian dollar is worth a good chunk more than its U.S. counterpart.