The S&P hits key support at 805 and we get an announcement that some mortgages will be subsidized? Anyone think Goldman and/or other players were tipped off prior to the announcement?
The problem is the system has TOOOOO MUCH DEBT.........plain and simple....... and the revenues are not enough to cover the debt. Until we purge the debt, revenes will continue to contract and the deterioration will continue. The longer we take to purge it, the longer this down cycle will continue........
Alstrynomics has known this for some time.......you can spin it anyway you want....but until the debt comes into line with the revenues.......we will see more and more defaults. The longer we take to purge the debt.....the more painful this will be for ALL Americans.
So you can keep dreaming about the market recovering.....but until we kill the debt cancer.....the distress will keep on spreading...........why do you think Alstrynomics NEVER waivers and remains laser focused on the issues???????
If we subsidize some homeowners on a street, do you think the other homeowners will want to be subsidized too????