posted on Jan, 5 2008 @ 09:46 AM
I like discussing the economy. I'll be the first to admit there is much uncertainty predicting future events in the economy, but sometimes the puzzle
pieces appear to be convincingly in front of us and it is more of a matter of when (timing is the tuffest thing) not if. Even with that being said i
will concede that guessing what exactly will happen is still difficult because alot of opinions seem to underestimate the underhanded and private
rescues gov'ts are willling to take to maintain order in their society's and keep the engine going a little longer...if they wish.
More and more *Respected analysists are talking about the future in a not so optomistic way. Before i continue further i would like to get give my
opinion on two thought patterns. First just because someone in 1978 (for example) said the economy was on the "road to ruin" and nothing apparently
happened should not take away and be *automatically* associated with recent analysts predictions. Why? that IMO is being willfully ignorant. that is
seeing more piece of mind in blissful ignorance than taking the time or having the knowledge to look at something in a critical way (esp. something
that may not be great news) I think people get sometimes caught up in their Optomistic ways of thinking and fail to separate the thought that yes
sometimes in someways your positive perception helps create your positive reality, ( i do because each thoughts have a certain electric impulse w/ a
particular emotion or importance temporarily imprinted in your brain) and help create the reality you perceive and so it really pays to be an
optomist. I beleive that this is a good mental attitude to take regarding your self , and to help form resourceful and improved relationships with
people in the world. Sorry for the rant, but this is important because i think people like the conveinience that this train of thought gives them,
and they carry this mental attitude on toward EXTERNAL world events, especially those that may be tough to swallow.
Now if anyone is still with me, and they understood what i was trying to get at i think the forecast for Prime mortgages to break down and for the U.S
banking system to break down www.marketoracle.co.uk...
is cause for some concern and critical analysis.
The people have been misled for almost a full year on the mislabeled mortgage debacle as a subprime phenomenon. That is the exposed tip of the
iceberg, since it is total mortgage debacle problem
The decline in housing prices will continue to push prices down another 5% to 10% in the new year, killing off prime mortgage portfolios and their
bonds. The bust will take down the entire US banking system, which is now reeling and tipsy, like a punchdrunk boxer after enduring ten rounds of a
pure beating, bloodied, wobbly, dizzy, blurred in vision. The mortgage debacle will extend to the commercial property arena, the degree of which will
these are just a couple of the many comments the analyst ( i believe Jim Willie) makes concering the year 2008 will be. From reading this it seems
like it is a year the foundation breakes and i'm not sure if their will be a lag time before the average consumer notices this sharp down turn but it
has my attention. I still have that occasional thought from the back of my head saying , it will be ok , just be optomistic, but then again i know
this is not something i am helpless over. This is something where people would be wise to make a PLAN B, to help them prepare for the apparently
growing possibility that the country undergoes a "recession" like they haven't seen in their lives and that the world's economic order is about to
be shuffled along with the loss of personal freedoms that the high standard of living we have enjoyed afford's us.
Anyone have any comments and if you have a minute and even if you don't have a professional understanding of financial markets ( i am just a novice
but it is a hobby of mine) give it a read .
P.S most media as you know will try to put a positive spin on almost any news, and limit the negativity in their forecasts to those things that are
already painfully obvious (the reason being) that their opinions DO effect other people's behaviors (consumer behaviors) and are paramount to
[edit on 5-1-2008 by cpdaman]
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[edit on 1/7/2008 by Gools]