From: Don Bowen KI6DIU <don.bowen AT earthlink.net>
To: homestead AT lists.ibiblio.org
Subject: Re: [Homestead] Morning musing
Date: Thu, 20 Sep 2007 12:40:25 -0700
At 9/20/2007, you wrote:
Marie:"I don't think the problem is too much information. I think it ia no
response from our government to the horrible problems we face. "
The housing bubble injected a lot of bad loans into the financial
system. It is so bad that few institutions know just how bad their
portfolio really is. There is little the governments can do and what they
little they do is nothing more than tinkering around the edges and most of
that wrong. Mortgage defaults are reaching record numbers as we approach
the next major round of resets in November.
England had its first bank run in over 100 years. The Dollar is at an all
time low against the Euro at $1.407 and way down against other
currencies. The Canadian Dollar is almost at par with the US Dollar at
$.9987 Gold is over $745 and oil is just under $82. December corn is
$3.7125, Soybeans at $9.90 ,and Wheat at $8.53. Middle class wages have
been stagnant since 2000. The total bill for the fiasco in the sand could
easily top $2T.