The mortage meltdown will begin to infect other areas of the cridit and financial markets.
Where ever credit has been applied; auto's, boat, housing, layaways, big-ticket items, and last, but certainly not the leaset of the pending disaster is CREDIT CARDS....all these are in danger of being defaulted on.
As these credit items default , the correction/default will then surge into othere areas.
More to follow............
I have to agree, the coming market correction concerning the credit industry will be very painful for many.
I fear a government feel good policy that we will all pay for coming on......
I believe that the market should be able to correct itself....let the chips fall where they may. It may be painful, but it is necessary.
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