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!
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