Geithner: Another Meltdown is 'Certain'

Treasury Secretary Timothy Geithner threw a bomb at America’s financial future last night, saying he is “certain” another financial catastrophe is on the way and that there is no way of reaching agreement on the debt ceiling without increasing taxes on the wealthy.

And he blamed a combination of timid politicians and credit card-debt-ridden Americans, rather than Wall Street and the big banks, for the financial woes that have beset the country over the past three years.

http://www.newsmax.com/Headline/Timothy ... ode=C494-1

Naturally what he blames is NOT the Administration's spending abuse.

Or the business unfriendly climate of Obama's appointees?

I think Barack really needs to show that he wants businesses to succeed. Instead of being an adversary.

Not likely. He chose to flood out the self sufficent cajuns, while protecting his voter base, the welfare recipients of Baton Rouge and New Orleans.

Oh there will be a bigger crash.

The administration spending is peanuts

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the $$$$ 40 TRILLION the FED pumped into the system to save the wall street CDO/CDS scam is the real issue. AND predictions are 6-10 million more foreclosures this year are certain. Look around here at all the foreclosed homes. An astute investor in 2012-2014 could pick up many great homes here at $.25 on the dollar value in 2008...........it is not nearly over yet.


Look at the film by Charles Fergerson - "Inside Job" now on HBO to see what happened and why it happened.

FYI - look at the homes in Mill Iron area - these babies are not awaiting summer residents - they are foreclosed with many others upside down and on the verge of foreclosure........pick then up on the cheap as the last shoe drops.

Someone ran the numbers and homes have fallen to their lowest costs inflation wise vs. rentals since they have begun taking records and it only looks like it is getting worse.
And if the dollar continues to fall and gas prices stay high, expect more of your neighbors to move down from the hills.

I know several people with DEEP pockets and they said stay away from homes right now.
If you have money pay off your debt and your own home.

FULLY agree "Martin".....but an astute investor will reap great benefits by picking the housing bottom (I am betting on 2012/2013) and picking over the pieces. Up here because of the increased cost of commuting actual values have fallen 30-40% already IF ant buyers can be found. The underbelly here are in the bars or on dope to sooth the pain (they live off the wealth that flows UP the mountain and that is drying up).

A good liquor store is the best investment up here currently.