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Economic Caca Hits The Fan
By Mr Ethanol | January 18, 2008
OpEdNews:
We all knew it was bound to happen. And now, as has been foretold by many prophets of doom, the economy is tanking… big time.
Just today, the market fell sharply. Dow Jones fell over three hundred points. Thus continues a downfall in the economy.
How could it be any other way? The economy as it is today is built upon bad credit and CEO’s making billions on the backs of others. The middle class is all but gone. The number of people entering the poverty roles are up. The housing market, artificially held up by risky mortgages, has been completely decimated!
Just now on the local news, there was a story about the record number of home loan foreclosures. The number of defaults in Denton county is fifty percent. The number in Tarrant county (Fort Worth) is thirty-nine, and in Dallas county, twenty-two. According to the report, what is happening now is the highest number of loan defaults in twenty-seven years. Fifty-three-hundred homes are slated to for foreclosure in February.
Is there a surprise in these numbers?
Topics: Biofuel, Market, Negatives, News |
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