This $17 Trillion Divorce Won’t Be a Pretty One: “China is beginning to cancel Congress’s credit card,” he told Fox News on June 10. It “doesn’t want to lend much more money to the United States and especially is worried about the Fed’s policy of printing money to buy new debt.”
Hundreds of Thousands of Workers Will Lose Unemployment Benefits Soon: Workers laid off early in the downturn are soon to be left without the basic sustenance of an unemployment check.
Mortgage defaults spread as even 'safe' borrowers falter: No longer is the real estate bust simply the result of exotic, subprime loans that doubled payments and blew up in homeowners' faces.
Credit Losses Rising Anywhere and Everywhere: The delinquency rate on U.S. mortgages surged to a record 9.12 percent in the first quarter of this year. Late payments rose in ALL categories, including prime fixed-rate loans, the absolute “cream of the crop” in the mortgage world.
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