US Housing Crisis Is Now Worse Than Great Depression

US Housing Crisis Is Now Worse Than Great Depression

www.cnbc.com

Then there is the issue of underwater homeowners—those who owe more than their house is worth—representing another 23 percent of homeowners who cannot leave or are in danger of mortgage default. Indeed, the foreclosure problem is unlikely to get any better with 4.5 million households either three payments late or in foreclosure proceedings. The historical average is 1 million, according to Dales' research.

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Yet more proof that the "double dip recession" is pure hogwash. We are in a depression. Thanks to unrestrained government spending, there is no end in sight. There really is nothing holding this country above water except misplaced faith and pure apathy. Our economy is in the toilet, but no one believes it. Your "average American" is(I hate to say it) too stupid to realize just how badly they have been robbed by the politicians and TPTB. To blind to see, to stupid to understand, and too apathetic to care.

www.cnbc.com
(visit the link for the full news article)

We had 25% unemployment during the recession and I don't see that yet.

Not to say we won't get there but were not in it yet.

Originally posted by kro32
We had 25% unemployment during the recession and I don't see that yet.

Not to say we won't get there but were not in it yet.

Are you sure we aren't there? We already know the regime is fudging figures, and admits to not counting those who have just given up looking for work. What is the real unemployment figure? It is certainly higher than 9%.

Originally posted by sonofliberty1776

Originally posted by kro32
We had 25% unemployment during the recession and I don't see that yet.

Not to say we won't get there but were not in it yet.

Are you sure we aren't there? We already know the regime is fudging figures, and admits to not counting those who have just given up looking for work. What is the real unemployment figure? It is certainly higher than 9%.

Well economics are not my area at all but having studied the Great Depression in depth I can say just by looking around that were not there yet. However the Great Depression was also coupled with extremely sever weather so who knows what tomorrow will bring.

Originally posted by kro32
We had 25% unemployment during the recession and I don't see that yet.

Not to say we won't get there but were not in it yet.

we are already above that now,
u won't see it in the stats cuz
business owners who went broke
can't claim unemployment so they
are not counted. It also doesn't count
recent graduates who are entering
the work force but can't find their
first job. They can't file either cuz
they don't have a past employer.

Add about another 15-18% to that
number and it will be
more accurate.

Ross Perot warned the entire nation
what was gonna happen to America
if NAFTA was signed back when he
was debating George Bush Sr and a young
Gov. named Bill Clinton.

Nobody listened !!!
NAFTA signed
Jobs shipped overseas
and America went broke.

Can't blame me.
I voted for Perot

Perot had it right. I wish he had not "flaked out" the way he did. Dropping out in the middle of the race, then getting back in. That really hurt him. He lost a lot of credibility.

Originally posted by sonofliberty1776
Perot had it right. I wish he had not "flaked out" the way he did. Dropping out in the middle of the race, then getting back in. That really hurt him. He lost a lot of credibility.

the ones that really try
and really care
are never allowed
to be president.

Perot and Paul come to mind

Originally posted by kro32
We had 25% unemployment during the recession and I don't see that yet.

Not to say we won't get there but were not in it yet.

To properly compare with the great depression you'd have to also consider how many then as opposed to now are in Government jobs..
Those jobs are tax negative..

Originally posted by boondock-saint

Originally posted by sonofliberty1776
Perot had it right. I wish he had not "flaked out" the way he did. Dropping out in the middle of the race, then getting back in. That really hurt him. He lost a lot of credibility.

the ones that really try
and really care
are never allowed
to be president.

Perot and Paul come to mind

Absolutely true. The corporate hit teams(AKA the lame stream media) are already out in force vs Ron Paul. Doing all they can to make him seem "unelectable".

Originally posted by kro32
We had 25% unemployment during the recession and I don't see that yet.

Not to say we won't get there but were not in it yet.

There are lies, damned lies and statistics (Benjamin Disraeli). Just on example, the US statistical office records the US inmate population as employed, hence it's obvious that the official unemployment rate is a pure scam. The US is in depression, so are many EU countries. It's a big farce, nothing more.

I knew that this would happen