Really, it’s a recovery unlike any other.
The DOW and other markets have factored in all these disasters long time ago and that is why they are going way up according to the super smart people among us. So please do not bring in bad economic news because some very wise super genius people are making fake money in a fake market bubble.
Not only subprime
Obamanomics
“Delinquencies on commercial mortgage backed securities soared $10 billion in June, hitting a 12-month high of almost $29 billion...
California led the nation with the highest amount of delinquent loans, closely followed by Texas and Florida.
Late loans across the country are up an “astounding” 585 percent from a year ago when just $4 billion were delinquent... “
No subprime paper here folks!
This is bad.
Heck, it’s the new economy. No sense in bitching about it. We don’t make “things” anymore, we make money. Be one of the money makers.
There’s a ready that “stock market” and “economy” are two different words. The market’s rise may simple be attributed to factoring in anticipated future devaluation of the dollar.
bfl
Chicago area sees upswing in home foreclosures
July 30, 2009
BY FRANCINE KNOWLES fknowles@suntimes.com
The number of Chicago metropolitan area homes hit with a foreclosure filing spiked 30 percent in the first six months of the year compared to the same period a year earlier, according to a RealtyTrac report that signals rising unemployment is driving up foreclosures here and in other markets.
http://www.suntimes.com/business/1692664,CST-FIN-foreclose30web.article