Now the mortgage meltdown reaches the prime mortgages – this one can devastate the economy and cause total financial meltdown
Kara Zeilig
Feb. 9, 2008

The mortgage meltdown has now reached the prime mortgages. The mortgage default among the prime adjustable mortgages has skyrocketed. The lower short term rate is not helping the situation for those who have short terms rates linked to UK based Libor and not the US Tbill.

People just cannot make their ends meet. This is an economic depression based on underemployment. People have jobs that cannot pay for the rising prices of everything. People tried to maintain their standard of living through borrowing against their homes. Now their homes are ‘one foreclosure fire’.

This new cycle of mortgage default and eventual mortgage meltdown will run into trillions of dollars. The loss of jobs in banks, financial institutions, and in the general economy will be in tens of millions. Employers are already offering lowered wages and lowered working hours.

Debt fears heighten in US and Europel over lower corporate profits, risks in leveraged buy-outs and downturn in commercial property
Sean Anderson
Loans used to finance two of last year’s biggest buy-outs were among those hit. Measures of credit risk in the US and Europe spiked as investors unwound complex trades that lose money when credit deteriorates.
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Obama revolution slowly changing America – it is similar to Russians getting rid of corrupt communism
Shekhar Pandit
The reason lies in the fact that America is going through a real revolution through the ballot. It is similar to that in Russia in late eighties when the people rose up and threw away the communists from power in Kremlin.
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Slowly rising initial claims manifests the changing tone in the economy from underemployment to unemployment – Dow can fall below 5000
Kirsten McLauren
The initial claims this week will point to data above 356,000 from last weeks 345,000. Slowly rising initial claims shows something that is further worrisome.
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Sales at U.S. retailers points to serious trouble for the economy – the economic depression is real
Peter Oberois
The underemployment is the root cause of the economic depression. New text books will be written after traditional economists understand why and how underemployment can create long term depression.
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Now the mortgage meltdown reaches the prime mortgages – this one can devastate the economy and cause total financial meltdown
Kara Zeilig
This new cycle of mortgage default and eventual mortgage meltdown will run into trillions of dollars. The loss of jobs in banks, financial institutions, and in general economy will be in tens of millions.
READ MORE>>

Clintons and corrupt Democratic leadership eager to settle the race by offering Obama the VP slot – will the agent of change become a slave of the establishment?
Shankar Hotabi
The people who voted for Obama will vote for McCain to teach the establishment a lesson even with Obama as a VP on the ticket. The vote for Obama is against the establishment that Bushs and Clintons represent.
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Any time Bill Clinton speaks on TV, Obama gets $5 million more
Juila Hernandez
Bill Clinton in the last seven years have associated himself with big businesses, republican stalwarts like Bush senior, wall street insiders and more. People have watched him making millions even after leaving office using his former position.
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