Wednesday, October 29, 2008
Julie Alexandria of Wallstrip talks about the prospects for the U.S. economy after the Federal Reserve cuts short-term rates to one percent today - the news isn't very good.
At about one minute in, have a look at the image that follows this:
So, no jobs, equals no money to pay the mortgage. And a big chunk of those people couldn't pay off those loans when they had jobs.Funny. And not not nearly as dire sounding when delivered in such a way.
I'd say we're drowning in S#&t creek.
What would be even funnier is if Nouriel Roubini delivered the lines above.