More to come, I'm afraid

OK, all of you people who kept saying there is no serious problem with the housing industry or the banks should by now b ready to admit otherwise! Bush called it a small "blip," I think, didn't he? He must have known better---I would rather he would really be ignorant than lie.

Now listen up again:
We have more coming-----Commercial real estate is over-loaned and are also going to cause similar finance problems soon.

Also, Student Loans again are in trouble and will have to eventually surface as bad.

Credit Card debt has just about run it's limit---soon they will not be able to provide more and more to the average Joe!

Now, a big one---Corporate debt. Companies can now NEVER compete with other countries due to the necessity of building in their debt in some fashion into their pricing. It will "blow."

Lets talk about second mortgages and home equity, OK?
Some second mortgages with the extreme interest rates now cost as much as the first mortgage!
Forget about having any equity in your home---it is owed! You can't even sell it and pay the first and second mortgage, therefore you can not sell it---the bank won't let you!

Letting the banks and money barons go completely crazy in this administration has just about ruined us!

Maybe the oil companies will buy everything?

Bonkers's blog | login to post comments

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Submitted by Bonkers on Sun, 09/21/2008 - 12:34pm.

Well, I guess not. It wouldn't help much.

See above.

Submitted by boo boo on Thu, 08/21/2008 - 12:08am.

All seeing, all knowing, Pray tell please, all of us bloggers out here in bankruptcy land, why, WHY on earth should we vote for another Republican if this is what happened on their watch this past almost 8 years. Don't you think we would be pretty stupid to put another Republican in office. I know you keep saying he is not what he says he is, but can we take the chance? Would we have another clueless(Oldtimer's) President like this one, who is cluess, age is not his excuse, and the real person running the Country is sitting in a hole under the White House, or where ever. When you are sitting in a hole you really can't see what the heck is going on. You sure don't get the real picture when all you do when you do come out of your hole is go hunting.
I don't have the answers to the mess this country is in but the person who we elect better be on his toes and better come up with a good plan or we are doomed.
So Oh Mighty one, what is your answer?

Submitted by Bonkers on Thu, 08/21/2008 - 4:40am.

Well then it appears that you must vote for Obama.

I fail to see enough experience of any kind in him, myself.

I will vote for McCain because I am an Independent and do not vote party regardless of the candidate! All of the minor parties running have absolutely no chance.

Submitted by boo boo on Thu, 08/21/2008 - 12:33pm.

I too Bonkers am an Independent. I haven't made up my mind who to vote for as of yet. Our choices are limited. The old one worries me because he carries around a card with what he should say on it. Today he can't seem to remember how many houses he owns. This doesn't sound to me like he is going to identify with the middle/most of the population of the USA, the TAXPAYER'S.
The young one, may not have the experience but I believe he is intelligent enough to appoint intelligent people. Can't say the same for Georgee W. He wasn't even smart enough to do that. "Browneee your doing a good job" Comes to mind. I'm going to wait and see how this plays out, it might be a, Nope I don't think so for both. Is that not a shame.
I'm worried, Russia is in the picture again and unlike Bush, I see nothing but Dead in Putin's eyes. Only the clueless would see trust.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.