Financial meltdown spreads from Subprime to other healthy part of mortgage industry as prices rise and people start losing jobs
Kara Zeilig
Feb. 2, 2008

The financial meltdown that started from subprime areas of the mortgage industry has now spread into the other so-called health parts of the mortgage industry.

the next set of mortgage defaults have started to build up. This time the avalanche will be more than the Fed or the financial system can bear. People are being asked by their employers to reduce the work week. Some are getting laid off outright. Every one is up to the brink on debt. The loss of jobs and wages is creating a massive problem in the tradition non-subprime mortgages.

The economy can shrink as much as 5% this year and other 7% next year in real terms. That will the nastiest depression ever registered. Dow Jones Industrial Average will also fall below 5000 in real dollar terms. The return on equity investment can be –40% over the next three years.

Financial meltdown spreads from Subprime to other healthy part of mortgage industry as prices rise and people start losing jobs
Kara Zeilig
The financial meltdown that started from subprime areas of the mortgage industry has now spread into the other so-called health parts of the mortgage industry.
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The primary election is between Bill Clinton’s moral hygiene and Obama
Hrithik Ratnagar
Not every one should become President of America. When one do, they should maintain some standard of moral hygiene because young children all over the world see the US President as some one to follow.
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The days of Charles Rangel and Robert Menedez are over – they are wrong in supporting Hillary Clinton
Anil Rane
Mr. Rangel, look at you in the mirror. Look at what you have done. You have supported the establishment who said ‘yes’ to the Iraq war and still does not want to confess the blunder in judgment.
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Obama momentum skyrockets – Hillary faces trouble in even holding on to her home state NY
Kiran Chaube
It will be Bill Clinton who will be defeated – not Hillary. She is just a nice person. Bill Clinton's moral hygiene is what will be defeated on 5th February.
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US Depression confirmed by Payrolls Decline – depression from underemployment not unemployment
Bernie Snyder
Underemployment started in 1980s. It is the direct result of Regan’s supply side economics. Jobs are exported, productivity increased, and tax cut for the rich to make the rich richer and squeeze the middle class into poverty.
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With Clinton win in big question the oligarchs take cover under McCain
Chetan Cahuhan
These oligarchs are in trouble for the first time only if Obama can defeat the Clintons. In those circumstances these oligarchs will shift their loyalty from Clintons to McCain.
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Fed up with 20 years Bush and Clinton monarchy – save the American democracy
Rita Nair
American democracy has turned into an oligarchy headed by two puppet monarch families – the Bushs and Clintons. It was interesting to watch Jeb Bush decide to skip the’ run’ this time. Perhaps the oligarchs told him, its time for the Clintons.
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