Financial crisis 2.0????

It’s the stated purpose of this blog to help you prepare for the turbulent times to come.  Canadian real estate is set for a correction.  Job growth and economic growth will be severely impacted, as will household finances.  I’ll continue to speak to these issues as best as I can.

However, there are other major issues on the horizon which could also exasperate the turbulent times I’ve been speaking about.  When I haven’t had the time to adequately research an issue, I’m happy to direct you to others who have.

So it is with the current foreclosure scandal in the United States.  If you haven’t at least read up on this, you must.

Start with this video in which Congressman Alan Grayson outlines the fraudulent foreclosure practices.

And here’s a good clip from PBS.

Also, Mike Shedlock explored the issue over on his blog.

Now what does all this mean?

The best explanation as to the possible ramifications has been by The Whisperer over at his(her?) blog.  You can read some of the posts here, here, and here.

If things continue to escalate as they have been, we could potentially see massive hits to bank assets both in the US and here in Canada.  Will it be financial crisis 2.0?  It certainly has the potential, and as such, itwarrants your highest attention.

Cheers

Ben

Advertisements
This entry was posted in Economy, General investing and tagged , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s