Citigroup:The latest subprime casualty. I was reading an investor's blog today at marketwatch. They were mentioning that Citigroup was too big for any one investor or group to buy like Bank of America bought Countrywide.
Doesn't anyone else see what I see? If the people who got these loans so their families could own a house sometimes for the first time don't get some help and if the people who were doing fine paying rent but got pushed out of their rentals by the people losing their houses in subprime loans and who are now homeless don't get some help there are going to be some really serious problems in American like during the 1930's and 1940's. Can't anyone else see that as more and more loans unravel and more and more neighborhoods as a result will become to unsafe to live in for anyone?
This is a kind of crisis that is like a "Black Hole" that sucks everything into its almost infinite vicious cycle. Unless the "Black hole" is stopped soon we will be back in the 1930's once again. Also, since Globalisation is also an actuality now this subprime debacle will also drag down other 1st world economies into a depression. If you are in a second or third world nation you'd best forget expecting any help from any first world nations if this actually happens.
When I hear how they are trying to protect the SIV investors I'm dumbfounded that more people don't see what I see.
IF WE DON'T NIP THIS THING IN THE BUD SOMEHOW NOW THEN CRIME AND UNREST WORLDWIDE IS GOING TO GET REALLY RADICAL. PROTECTING SIV INVESTORS WON'T MEAN ANYTHING THEN!
Actually, right now there are three black holes:
1. Subprime black hole
2. Oil and Gas price Black hole
3. Global Climate Change Black hole
I think the world economies could absorb any one and possibly any two of these problems. However, with all three at once I don't know!
To the best of my ability I write about my experience of the Universe Past, Present and Future
Top 10 Posts This Month
- Dow futures jump 600 points after Trump says he doesn’t plan to get rid of Fed chief: Live updates
- How does the Human Race not go extinct this century?
- How does one learn to be in the right place at the right time all or most of the time?
- We’re suddenly talking about the Great Depression when discussing Trump’s stock market
- What are the 4 types of Anthropology? begin quote from Google AI:
- March 12th 2025 in and on Mt. Shasta
- When I studied Cultural Anthropology at UCSC I was most interested in understanding cultures especially Tibetan Culture.
- The Fed Chief Powell HAS to be non-political or the whole economic System will collapse in the U.S. and possibly the world too
- ‘He broke barriers’: One of the last survivors of elite group of paratroopers died. He was 108
- Mt. Shasta tourism was the highest ever for winter skiing and such BEFORE Trump was inaugurated
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment