Associated Press: Many states appear to be in recession as deficits grow. In a nutshell, states are not merely facing declining revenues.  They are facing increasing costs from inflation and devaluation, decreased purchasing power, decreased cash reserves when they find out that what they had  in “cash equivalents” were partially invested in collateralized mortgage obligations, decreased […]

Tags: Bruton, central bankers, euro, European Union, National Conference of State Legislatures, NCSL, state budgets, state economy
Posted in bubble, Eviction |

EDITOR’S NOTE: As long as Central banks focus on the currency instead of the cause, these measures will at best delay an inevitable collapse. At the core of the problem is that unless people are kept in their homes, trillions of dollars of assets will fail. This is NOT an inevitable consequence. Plans abound to […]

Tags: Bank of England, central bankers, credit, mortgage swap
Posted in bubble, Eviction |