Too Little Too Late. It's 1:33 am early tuesday Morning January 22nd 2008, the Asian Stock markets are said to be off around 20% now since the first of the year. I'm wondering what is next? George Soros, a well known investor worldwide says that this is the worst thing to happen to the stock market since World War II. I'm inclined to agree with him if this continues.
There was no real reason for any of this to happen. That's what is really crazy about all of this. If the US Government had just jumped in and frozen interest rates on all Adjustable Rate Mortgages at the teaser rates before they reset none of this would be happening. Now, something worse than the Great Depression is possible worldwide. Even though the basics in the US Economy are okay, the vicious cycle of the financial destruction of peoples finances and lives in the United States from forced foreclosures will destroy the world economy. Why is the US Government letting this unnecessary debacle happen? That is my question. I feel like I'm watching the Hurricane Katrina Debacle multiplied by about 1 million as I write this.
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