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I believe we have built an economy based on a financial "house of cards"; that house of cards being promises to pay (credit) and the greed of large financial companies (predatory lending). Because so many promised to pay, those financial companies built a house of cards to the moon and beyond. Now that house of cards is collapsing causing a cascading effect and it ain't over. Those cards at the top are huge and they are falling and they in turn are going to take out every card below.
I do not believe the US Government has the money to plug the holes in this dike. Fannie Mae, Freddie, AIG, Lehman, Merrill Lynch, et al they do not deal in billions but trillions of dollars and we cannot cover them all.
I also believe we have arrived at the financial & economic "event horizon" and are now witnessing a slow motion train wreck that cannot be stopped.
Unless you are one of the Ivy League geniuses that run those failed companies (that make hundreds of millions in salaries), I’d prepare for hard times ahead.
This will not be a national problem; this financial crisis will effect the entire globe.
Just my .02
TS
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"The Spartans do not ask how many are the enemy, but where they are."
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