People, we are in a
very serious economic situation. Besides what is reported below, credit
card delinquency is at an all time high. People have not been able to
maintain their lifestyle without using their credit cards, and they are now
MAXED OUT!!! Food prices are going to soar. Bread, just for one
item, is now costing over $4.00 a loaf. Millions of acres of farm land
have been wiped out due to flooding. Farmers, because of the Government
high rate subsidy, are growing an increasing amount of corn for biofuel. There is a world wide shortage of
many items, including wheat. Although their may be a short term drop in
gas prices, they are going to eventually be so high that many will not be able
to afford driving to work. This will then cause everything to go up,
including FOOD. Because of the drop in sales, millions have
already lost their jobs.
Because of all the foreclosures, and other defaulted loans, many banks and lending institutions are now in serious trouble. If you have your money in any bank, YOU SHOULD GET IT OUT NOW while you can. (See the EDITORIALS on buying gold under the ECONOMIC section.) The FDIC, which is suppose to cover all deposits up to a hundred thousand dollars, only has so much money, and in that so much, not all deposits can be covered if there were mass withdrawals. Some may only get a dime on the dollar, and the rest written off as LOST. If such a case came up, there would probably be a "Bank Holiday" enforced, and no one would be able to obtain ANY of their money.
People received Certified Checks from Indymac for their deposits, and only a few banks will accept them. The depositors may have gotten checks, but they just MIGHT NOT BE ANY GOOD.
And, how many people, families, are now living in their cars as a result of what this article has to say.
The Edomites, which control the money, have long planned to have a world wide financial crash to create an even more tight fisted control with their NWO. I do not know that this is the planned one, but most on the planet are facing a possible disastrous financial scenario. We ARE on the precipice of a WORLD WIDE ECONOMIC DISASTER!!!
| By J.W. ELPHINSTONE, AP Business Writer 7-25-08
NEW YORK - The number of households facing the foreclosure process more than doubled in the second quarter compared to a year ago, according to data released Friday. Nationwide, 739,714 homes received at least one foreclosure-related notice during the quarter, or one in every 171 U.S. households, Irvine, Calif.-based RealtyTrac Inc. said. Soft housing sales, declining home values, tighter lending standards and a sluggish U.S. economy have left strapped homeowners with few options to avoid foreclosure. Many can't find buyers or owe more than their home is worth and can't refinance into an affordable loan. Foreclosure filings increased year-over-year in all but two states, North Dakota and Alaska. Nevada, California, Arizona, and Florida continued to clock in the highest foreclosure rates. One in every 43 Nevada households received a filing during the quarter. Cities in California and Florida accounted for 16 of the worst 20 metro foreclosure rates. Stockton, Calif., had the worst rate, with one in every 25 homes in the town receiving a foreclosure filing. That's nearly seven times the national average. RealtyTrac monitors default notices, auction sale notices and bank repossessions. Banks took back more than 222,000 properties nationwide in the second quarter, the company said. Bank repossessions accounted for 30 percent of total foreclosure activity, up from 24 percent in the previous quarter. Economists estimated 2.5 million homes nationwide will enter the foreclosure process this year, up from about 1.5 million in 2007.
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