Bush led us into the Stone Age

There is nowhere to hide anymore.

AIG the biggest insurer worldwide will go bankrupt in the coming days. Same goes for the US bank that holds the most deposits from "savers" Washington Mutual. Bank of America one of the biggest banks in the US will go bankrupt if they don't cancel the merger with Merril Lynch. They probably "had to" merge with Merril because the FED said so.

We'll see some run on the banks in the next few weeks.

It's pretty clear now why the FED tried to bid up the dollar. They needed a strong dollar to lower interest rates. So they will lower the 2% interest rate to 1% (or lower, auch)later this week. Which will speed up the dollars collapse. Foreigners will pull their money out of US assets and the dollar crashes even further. China and Japan will ask their money (dollars) back. So the FED prints more money... which makes the dollar drop even more... and so on and so on.

The U.S.S.A., the new Zimbabwe of the Modern world.

First big homebuilder to go bankrupt, who will be next...

TOUSA is better known to the public as a group that combines these homebuilders: Engle Homes, Newmark Homes, Fedrick, Harris Estate Homes, and Trophy Homes.

HOLLYWOOD, Fla. (AP) — Homebuilder TOUSA Inc. said Thursday its third-quarter loss widened and it may be forced to file for bankruptcy as the housing slump in Florida worsened.

The company said its ability to remain solvent depends on restructuring to reduce debt in exchange for equity.

TOUSA shares plunged to 25 percent to 19 cents in morning trading on the news. The New York Stock Exchange has informed the company it may delist the stock because it has traded below $1 for more than 30 days.

PS: Our rental is an Engle home.

The clock is ticking for Countrywide

Mortages down 44% year over year for our beloved company Countrwide Financial. Link

And does the CEO, Mozilo (big boss) have faith in his own company Countrywide? Hmmm, let's review his stock transactions for the last year: sold about 365 000 000 dollars of stock.

If the biggest mortgage bank in the US goes bankrupt, that should mean something...

Is this the first BIG builder to go bankrupt?

Just a hunch, nothing more...Beazer Homes