America's Addiction to Debt Finally Crashes the System

Market evangelists created the wreckage, but ordinary working people will bear the greatest burden.

//www.alternet.org/story/62787/



Almighty US dollar turns into 'American peso'

Since 2001 the dollar has lost more than half its value against the euro. It now costs nearly $1.40 to buy one euro. And it isn't just the euro that seems to be growing stronger against the US dollar. It has declined against many other major world currencies, and even including minor ones like our peso, reflecting the dollar's loss of purchasing power.

//www.abs-cbnnews.com/storypage.aspx?StoryId=93050



Current Foreclosure Crisis Deemed the Worst in U.S. History

According to the most recent foreclosure numbers released by the Mortgage Bankers Association (MBA), the U.S. is embroiled in the worst foreclosure crisis in recorded history. More than 14 percent of subprime borrowers are defaulting, and prime borrowers are beginning to follow suit.

//snipurl.com/1qx9d



Housing construction falls to 12-year low

Data indicate real estate slump is worsening
//www.msnbc.msn.com/id/20868561/



Housing layoffs

Struggling companies in the mortgage and housing sectors have cut more than 80,000 jobs this year.

//snipurl.com/1qx9l



Paulson Asks Congress to Lift Debt Limit: The limit is $8.965 trillion

Unless Congress votes to raise it, the country would be unable to borrow more money to keep the government operating and to pay debt obligations coming due.

//biz.yahoo.com/ap/070919/debt_limit.html?.v=2


From Information Clearing House



//freepage.twoday.net/search?q=foreclosure
//freepage.twoday.net/search?q=mortgage
//freepage.twoday.net/search?q=Paulson

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