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Host has covered this in great detail in other threads, past and present. His prolonged absence troubles me.
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Yea, where is Host? Perhaps he is gazing into his crystal ball to predict the next economic crisis. One thing I have learned from Host is to never underestimate the power of the exaggeration of bad news.
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Yes, that's right. Over 30% of economists now think the subprime and debt crisis is the single greatest threat to the U.S. economy...followed by 20% who think it's terrorism.
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So that means 70% don't think subprime and debt crisis is the single greatest threat to the US economy.
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Infinite, the die has been cast. I know this sounds paranoid (and is covered in paranoia) but the American people are going to be given the choice of total economic devestation OR uniting with Mexico and lowering our standards to theirs.
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Or people will continue to go to work, continue paying their mortgage and rent payments, continue buying food, clothing, electronics, cars, appliances, household goods, toothpaste, getting hair cuts, going on vacations, eating out, and spending way to much to eat popcorn in movie theaters.
Here is a tidbit to put this in perspective. In July Nevada was again the state with the highest foreclosure rate, that rate was 0.5% or 1 home 199. That means 198 of those homes did not forclose in July. If you annualized the 0.5%, it comes to about 6%, or 94% of the homes won't be in foreclosure in the worst real estate market in our live times in a state that had among the highest amount of real estate speculation and is known for high risk gambling. The second place state was Georgia with a rate of 0.3%. Florida was 7th, California was 4th.
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July total: 5,116
Number of households per foreclosure: 199
Change from June, 2007: +8.34%
Change from July, 2006: +214.64%
July rate rank: 1
June rate rank: 1
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http://images.businessweek.com/ss/07...paign_id=msnbc