The Next Bubbles...she's a bursting...

  • metta

    Posts: 39099

    Dec 18, 2008 11:22 PM GMT
    In progress....

    - mortgage/residential market bubble.
    - the stock market
    - commodities
    - retail
    - manufacturing (eg: auto industry)
    - swaps
    - hedge funds
    - employment

    to come.....
    - alt-a and Option ARM loans (the second mortgage disaster)
    - commercial real estate
    - health care
    - ?

  • Posted by a hidden member.
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    Dec 19, 2008 7:35 PM GMT
    Credit cards is another problem. Individuals and businesses in the Western world (North America, Europe) are going through a very painful deleveraging (digging out of too much debt). When they have their balance sheets back in order things will start turning around. However, the baby boomers need to start saving like crazy if they want to retire with a half decent nest egg. That may mean the economy will not pick up as much as people are expecting.
  • Rookz

    Posts: 947

    Dec 19, 2008 7:51 PM GMT
    Isn't this a nice topic to talk about during this time of year.
  • Posted by a hidden member.
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    Dec 19, 2008 7:59 PM GMT
    The biggest problem moving forward will be credit cards. Hopefully americans will learn to live without relying on them. The fact that those damn companies can now raise your rate for no reason whatsoever should be a huge sign that they are just stupid to have. Glad I don't have any!

    Another problem affecting all this mess - but no one seems to be talking about - is the bankruptcy laws passed under the Bush Admin for the financial industry. The republicans, credit card / financial companies re-wrote the laws in 2003 (i think) to restrict the rights of consumers to declare bankruptcy and seek protection. Does anyone else think this financial mess might not be so bad if consumers had their full rights back?
  • swimbikerun

    Posts: 2835

    Dec 19, 2008 8:02 PM GMT
    Gonna get a whole lot worse before it gets better...

    The Mortgage Meltdown Video


    Scott Pelley reports on the mortgage crisis that's far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession.
  • Posted by a hidden member.
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    Dec 19, 2008 8:06 PM GMT
    Speaking of Bubbles...

  • Koaa2

    Posts: 1556

    Dec 19, 2008 8:21 PM GMT
    growingmusc saidThe biggest problem moving forward will be credit cards. Hopefully americans will learn to live without relying on them. The fact that those damn companies can now raise your rate for no reason whatsoever should be a huge sign that they are just stupid to have. Glad I don't have any!

    Another problem affecting all this mess - but no one seems to be talking about - is the bankruptcy laws passed under the Bush Admin for the financial industry. The republicans, credit card / financial companies re-wrote the laws in 2003 (i think) to restrict the rights of consumers to declare bankruptcy and seek protection. Does anyone else think this financial mess might not be so bad if consumers had their full rights back?


    They did it, because they knew what was coming, don't kid ourselves!
  • Posted by a hidden member.
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    Dec 19, 2008 8:32 PM GMT
    I advocate revisiting the homestead act. This is what we need to do in my opinion.

    America is fucked, Europe is fucked without lube or a kiss.