Economic crisis still looms as winter looms nearby

This is the quote of the week at Mortgage Blues: “”People have been celebrating that we’re through the financial crisis, but the underlying issues are all still there,” said Dean Baker, co-director of the Center for Economic and Policy Research. “We’ve lost trillions of dollars in housing wealth, and consumption’s going to be weak. It’s not the ’30s, but there’s really nothing to boost the economy.””

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Evil mortgages cause job losses, strain social security

Big job losses and a spike in early retirement claims from laid-off seniors will force Social Security to pay out more in benefits than it collects in taxes the next two years, the first time that’s happened since the 1980s. It is just another case of fallout from greedy lenders and bad mortgages. This time the entire fabric of the United States is threatened.

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Almost half of all mortgages underwater by 2011 – See how

Austin Kilgore wrote an article about predictions from Deutsche Bank concerning the mortgage market and the financial position of homeowners. While we certainly saw mortgage blues on the horizon well before the summer of 2007, Kilgore’s article shocked even us.

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