Our Awful Situation
In the eye of an economic storm
This “Hurricane” analogy makes good sense:
This hurricane season will be quite different than seasons past. While most start with tracking tropical depressions that gain momentum and eventually develop into hurricanes graded on the Saffir-Simpson Scale, this season will be about subprime loan losses developing into a gale-force financial wind that may well destroy everything in it’s path.
Like all hurricanes, this one will have three components: The front wall, the eye and the back wall.
The subprime mortgage mess was the front wall of the hurricane currently rocking our financial system. Once-great investment banks, like Bears Stearn, were destroyed overnight. America’s largest home lender, Countrywide, was sold to Bank of America to avoid bankruptcy. Now the subprime mess may take down a commercial lender like Citigroup or B of A.
This is just the beginning of the devastation to come from this hurricane season.
Comments
{ 
}
}
Search
Recent Posts
- Are feds stockpiling survival food?
- President Bush pardons himself against potential war crimes
- Terminator: Governor plans to slash state workers' pay
- World warned over killer flu pandemic
- Emerging Killer Virus Starts Like a Cold, But Kills Many
- Ex-cop may be charged in case of man Tasered to death
- THE RELIGIOUS RIGHT IS AWOL FROM THE REAL WAR
- What is the most biased new outlet in America?
- Russian military "considering stationing bombers on Cuba"
- Pope blesses U.N. flag, calls for "binding international rules"
- Quotes from the great depression
- Top 25 things vanishing from America: #1 -- The family farm
- Wachovia Has $8.9B Loss, Cuts 6,350 Jobs, Dividend
- How Goldman Sachs took over the world
- Economist: “America May Default On Its Debt”
- Sucker's Rally? Stock Gains Likely to Be Short-Lived
- What if my bank fails? Some questions and answers
- An Uncomfortable Conversation about Nukes
- Terrorist Watch List Hits One Million Names
- Local currency in Massachusetts considering removing dollar peg, backing with commodities
Sites of Interest
- Survival Blog
- Drudge Report
- Cryptogon
- Lew Rockwell Blog
- World Affairs Brief
- New World Order Truth
- Pat Buchanan Blog
- Glenn Greenwald Blog
- Ron Paul
Archives
- July 2008 (62)
- June 2008 (78)
- May 2008 (119)
- April 2008 (175)
- March 2008 (38)
Categories
- 2012 (1)
- 9/11 (11)
- Abuse (1)
- Afghanistan (11)
- Africa (1)
- Agriculture (7)
- Airport (2)
- Al Gore (6)
- Al Qaeda (1)
- Alan Greenspan (3)
- Anthrax (1)
- Associated Press (1)
- Attorney General (2)
- Banking (20)
- Bankruptcy (3)
- Barack Obama (4)
- BBC (2)
- Ben Bernanke (2)
- Bible (1)
- Bill Clinton (2)
- Biofuel (1)
- Black Ops (2)
- Blackwater USA (1)
- Blogging (1)
- Border (4)
- Budget (7)
- Calendar (1)
- Canada (3)
- China (21)
- Christianity (3)
- CIA (8)
- Civil Rights (10)
- College (1)
- Communism (1)
- Congress (10)
- Conspiracy (23)
- Constitution (7)
- Constitutional Rights (17)
- Corruption (16)
- CPS (3)
- Crazy Billionaires (1)
- Credit Crisis (2)
- Crime (2)
- Depression (8)
- Divorce (1)
- Documentaries (1)
- Dollar (11)
- Economic Depression (26)
- Economy (79)
- Election (6)
- Elitist Punks (7)
- Employment (3)
- Enemy Combatant (2)
- Energy (1)
- Environment (4)
- Espionage (2)
- European Union (2)
- Family (1)
- Famine (4)
- Fascism (5)
- Faux News (1)
- FBI (1)
- Federal Reserve (25)
- FHA (2)
- Fingerprint (1)
- FISA (3)
- FLDS (2)
- Food (15)
- Food Supply (27)
- Foreclosure (10)
- Foreign Policy (6)
- Founding Fathers (2)
- Fraud (3)
- Freedom (4)
- Gasoline (7)
- George Bush (16)
- Gitmo (3)
- Global Warming (20)
- Gold (3)
- Google (1)
- Government (13)
- Guantanamo (3)
- Guns (2)
- Health (6)
- Health Care (3)
- Hillary Clinton (6)
- History (3)
- Homeland Insecurity (7)
- Homosexuality (5)
- Hospital (2)
- Housing Crisis (25)
- HUD (3)
- Illegal Immigration (2)
- IMF (2)
- India (2)
- Inflation (11)
- Insurance (3)
- Internet (1)
- Intrusive Technology (4)
- Iran (32)
- Iraq (21)
- Israel (6)
- John McCain (17)
- Journalism (1)
- Last Days (4)
- Legislation (1)
- Marriage (3)
- Martial Law (2)
- Medicine (2)
- Mexico (5)
- Michael Mukasey (1)
- Middle East (6)
- Military (35)
- Missile Defense (1)
- Money (4)
- Mortgages (9)
- Natural disaster (1)
- Natural Disasters (6)
- Neocon (3)
- New York City (3)
- New York Times (4)
- News (1)
- North Korea (1)
- Nuclear (6)
- NWO (6)
- Obama (3)
- Oil (23)
- Olympics (4)
- OPEC (2)
- Our Awful Situation (10)
- Outbreak (2)
- Pakistan (1)
- Pandemic (3)
- Patriot Act (1)
- Pentagon (2)
- Piracy (1)
- Police (6)
- Police State (12)
- Polygamy (4)
- Population Control (1)
- Pork Barrel Spending (5)
- Poverty (3)
- Powers That Be (PTB) (5)
- Preparedness (4)
- President (4)
- Presidential Race (4)
- Prison (3)
- Privacy Rights (12)
- Propaganda (6)
- Prophecy (2)
- Putin (4)
- Rape (1)
- Real Estate (4)
- Real ID Act (1)
- Recession (10)
- Religion (10)
- Republican Party (1)
- Revolution (4)
- RFID (1)
- Rice (1)
- Ron Paul (4)
- Rothschilds (1)
- Rupert Murdoch (1)
- Russia (10)
- Same-sex Marriage (1)
- Science (1)
- Second Amendment (1)
- Security (6)
- Socialism (2)
- South Korea (1)
- Stock Market (11)
- Strikes (1)
- Suicide (1)
- Supreme Court (2)
- Surveillance (14)
- Survival (5)
- Terrorism (24)
- Tibet (2)
- Torture (4)
- Trade (3)
- TSA (1)
- UFO (1)
- UK (3)
- Uncategorized (9)
- Unemployment (3)
- United Nations (4)
- Venezuela (2)
- Voting (2)
- Wall Street (4)
- War (41)
- War on Drugs (4)
- Waterboarding (1)
- Weather (1)
- Welfare (1)
- WMD (1)
- Zimbabwe (4)
