I used to have a Google AdSense "ad" here but the AdSense people at Google kept sending out homosexual oriented garbage so I deleted it. The jerks."
Mr. Ghostship - Wrong!
Mr. Ghostship... not that I want to be, but now that some time has elapsed, I was right after all, wasn't I? The current account is where I was worried it would be. The decline of the US dollar is where I thought it would be. The position of the M3 is where I was concerned it would be and tried to draw attention to. The housing bubble has ended up where I was worried it would be. The derivatives issues are the concern I said they would be. The unraveling of the Yen carry trade has started as I was worried it would be. Even Mr. Greenspan reluctantly states the same to some degree. And yet... all of this you angrily proclaimed as bunk over a year ago.
You are a smart person and mostly right on the target with the things you write about - but in this instance I think you were acting as the 'necessary cheerleader', and of course, 100% wrong. I will accept an apology any time.
Thanks.
Depression?
Yes, I believe there will be a U.S. economic recession, but the elements are now in place for the first time in 80 years for America to sink into a depression. Should a depression unfold, there will be big name financial houses that will fail.
Click HERE
Gonna Get Ugly
Commodities investment guru Jim Rogers stepped into the U.S. subprime fray on Wednesday, predicting a real estate crash that would trigger defaults and spread contagion to emerging markets.
"You can't believe how bad it's going to get before it gets any better," the prominent U.S. fund manager told Reuters by telephone from New York.
"It's going to be a disaster for many people who don't have a clue about what happens when a real estate bubble pops.
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Nation's 2nd-biggest Subprime Mortgage Lender - BROKE
March 12. Bloomberg is reporting that New Century Financial Corp., the nation's second-biggest subprime mortgage lender, said it doesn't have the cash to pay creditors who are demanding their money, increasing speculation that the company will go bankrupt.
The NYSE halted trading of New Century this morning until it decides whether to keep listing the company's securities. Shares of the Irvine, California-based company, already down 90 percent in 2007, lost half their remaining value in pre-market trading, and rivals fell as much as 25 percent today.
``They're one step closer to bankruptcy,'' said Bose George, an analyst at Keefe Bruyette & Woods in New York.
Click HERE for the original story
