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Six Examples of Economic Contraction In Action

Six Examples of Economic Contraction In Action

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Six examples of a continued contraction in the economy; i.e., more deflation on the way:

1. Houston is bankrupt and so is California and Oregon.
Six examples of a continued contraction in the economy; i.e., more deflation on the way:

1. Houston is bankrupt and so is California and Oregon.

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Published by: Deflation Times at Scribd on Oct 29, 2009
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Abandon All Hope: Deflation, Financial Crisis, Credit Crisis, Subprime Crisis, Financial Crash, Bailout,Wall Street Crash, Foreclosures, Bank Failures, FDIC Bank Fails, Bank Bailouts, Depression. ProtectYourself: Elliott Wave, Top 100 Safest US Banks, Safe Banks, Tomorrow’s News Today.
Six Examples of Economic Contraction In Action
Six examples of a continued contraction in the economy; i.e.,more deflation on the way:1.Houstonis bankrupt and so isCaliforniaandOregon. 2. Is there anymore taxpayer money for more bailouts? GMAC Financial Services Inc. is asking for a$2.8 billionlifeline.3.Nation's largest commercial-real-estate lenderfiled for bankruptcyprotection in Delaware. Who? Capmark Financial Group Inc., owned by Goldman Sachs GroupInc. and KKR & Co.4. People aremad. First, at banks, as shown during theShowdown in Chigagowhere "Thousands of  people gathered in Chicago today in front of the American Bankers Association annual convention toprotest what they consider to be the group's long history of resistance to financial reform."Second, at banks again, as shown by Ann Minch who in aYouTube video, that has had 41,804 views,asked Chase Bank "Are you stupid?" after it raised the interest rate on her credit card to 21.24 percent.And third, at loan-modification agents, who werebeaten and torturedby an angry couple in Los Angeles.5. The Federal Reserve Bank of Atlanta makes a case for a jobless recovery, which we think is hopeful
given that theremay not be a recovery.6. To conclude, considerDetroit's housing catastrophe. "After five hours of calling out a drumbeat of "nobid" for properties listed in an auction book as thick as a city phone directory, the energy of the countyauctioneer began to flag. "OK," he said. "We only have 300 more pages to go."ShareThisPosted by Mary Filed inSocial Change,The EconomyCreated: October 28th, 2009
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