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“U.S. Economy Screwed” - Henry Blodget

Posted by Marshall on January 13, 2008 | Link It

No surprise - but Henry Blodget just said "U.S. Economy (is) Screwed". "…The question now is not "will there be a recession?" but "how bad will it get?

If we're lucky we get "..three crappy quarters, regardless of what the Fed does"; if we're not lucky "…we are, well, screwed", according to Blodget.

Plummeting housing will now drag down the rest of the economy.

The "bad debt" problem is not just "sub-prime" folks who should never have have taken out mortgages in the first place. It includes credit card debt, "high quality" mortgages, car loans, and other leverage that have recently become a consumer way of life.

See this chart I generated from Daylife.com of 2007 article counts

Filed in Sub Prime Mortgages

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These are the current comments for "“U.S. Economy Screwed” - Henry Blodget"

zero

01/13/08 @ 7:43 pm

ah, don’t worry, the Federal Reserve has unlimited credit, they’ll figure out a way to fool the masses. Everything is fine, CNBC told me so! I blame Senator Aldrich for creating that nefarious Federal Reserve monster at Jekyll Island! To get the government to pass legislation allowing a few men to create as much money as they want … what fools!

Anonymous

01/13/08 @ 11:38 pm

Planned economic collapse coming to your town soon. The Global Elite have been planning this for a long time. They are very patient. They want a Civil war. That is what they will get. It will allow them to force martial law on us and suspend the Constitution. Finally ushering in WW3 and getting the population reduction they want and a one world economic system under their dictatorship.