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I think high energy prices are starting to take effect. Many companies are reporting weaker then expected back to school sales.
The US economy is in trouble IMO because most people with low income will have to charge. How can the US economy sustain itself when every single day Americans keep racking up debt? They say savings are at an all time low! If gas prices continue to rise we could see a major recession. (Most wall street guys say the economy is great. Tell that to the majority of Americans who are become increasingly living pay check to pay check. The economy can fall fast)
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i agree: in Memphis? the FBI just opened an investigation into what appears to be an ongoing pattern of fraud in the mortgage biz..people lying on their apps to get too much money...
cash will be king for awhile,
i wonder how the politico's will spin this one? i guess they'll blame it on clinton too??
it's those damn obstructionist liberals that did it LOL.....
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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Those interest only mortgages are going to hurt alot of people IMO. Sure people can afford the house until the payments start to balloon! This practice will cause alot of foreclosures in the future.
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