Archive for the 'us dollar' Category

The end of Ponzi financing era in the United States and the World – When income, revenues, and swindles no longer support servicing debt. From California home owners, Greek bondholders, and Japanese zombie banks.

Financial contradictions with banks chasing profits in other markets – 2010 year of two financial worlds. Stocks in many sectors improve while unemployment increases, home prices fall, condo values in Los Angeles decline, and option ARMs worst performing loan product.

American housing too expensive and the multi-income trap will not save the housing market. Banks have laundered their bad bets through the Federal Reserve and GSEs while working and middle class income has eroded.

California Budget Solution – Ignore It. $3 Billion Financial Gap by December. State Budget Deficit Already in the Billions. Tax Revenues Collapse and Unemployment and Underemployment at 23 Percent.

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