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MUST SEE VIDEO - Second Wave of Mortgage Defaults - 60 Minutes Report

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posted on Jan, 16 2010 @ 11:28 PM
I am sure there are people who still naively believe all these threads about another coming financial collapse are all complete bunk. May I direct your attention to this 60 Minutes report from December '08? The video will make it ultra mega oober clear what's coming. So come on debunkers, naysayers, and blind deniers. Take a chance and watch....if you dare!

Yea, I bet you are checkin' your huggies now, huh?

posted on Jan, 17 2010 @ 01:32 AM
Great thread!

I knew this was coming and like the video says The US is on sale.

I wonder what country will buy it up.
Perhaps China. (Maybe Haiti? lol)

I was just about to see If I should buy land or a house.

I'm saying never mind after watching these videos.

Thanks for sharing.

posted on Jan, 17 2010 @ 01:38 AM

Originally posted by jonathan0220

I was just about to see If I should buy land or a house.

Videos are old news 12guage. It is being suppressed for a reason. Everyone that knows is scared shi*less. The rest are ignorant or in denial of reality.

Buy a place to hold out.

Self sustainable if cut off.

Nearby water souce, renewable food source and escape route.

Make sure that you have a good defensive field of fire all around.

Have a plan in place.

Not kidding.

[edit on 17-1-2010 by In nothing we trust]

posted on Jan, 17 2010 @ 04:27 AM
A snippet from an article in the WSJ:

Moody's Investors Service put $572.7 billion in Alternative-A residential mortgage-backed securities issued from 2005 through 2007 on watch for possible downgrade after it revised its loss provisions.

The rating agency said Alt-A loans that are 60 or more days delinquent "have increased markedly" since...

Moody's: Alt-As on watch for downgrade


The rest is for subscribers but that right there tells you that something's on the way and it's pretty obvious that all the chickens haven't come back to roost just yet but they're on the way. That's just Alt-As, too. If the Option Arms start falling as well, the excrement will definitely be hitting the spinning cooling device.

Fasten your seat belts folks...

posted on Jan, 17 2010 @ 03:18 PM
This 60 minutes was from December 2008, so it is kind of old news - but yes, the mortgage problem is only getting heated up. Once the stimulus starts to go away - boom.

Remember - if the economy crashes again - we have NO weapons to deal with it. Credit is still frozen and the Fed can't lower rates anymore.

posted on Jan, 17 2010 @ 06:16 PM
Yes the report is from Dec. 08, but the info is about what is about to happen now in 2010. The graph in part 1 vid shows the projected Alt-A and Option Arm loans that will go delinquent through 2011.

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