Tuesday, January 8, 2008

interesting Article: Housing Slump Worst Since the Depression

Wow, they pulled this article off of CNNMoney.com real quick - luckily there is a wonderful site called google.com - you may have heard of it -that allows you to find things the media would rather 'bury'.

The article: Housing Slump Worst Since the Depression

Yeah, that's right they pulled out the "D" word. And it wasn't just any speculator pulling it out :

"Wells Fargo, which has sidestepped many of the credit and liquidity problems plaguing U.S. mortgage lenders, believes the nation's housing slump is the worst since the Great Depression and is far from over, Chief Executive John Stumpf said Thursday."

That's right a CEO of a major, well-respected bank said it. Oh and the DOW losing over 200 points today - that helped out a bunch too.

'Stow away your luggage in the overhead compartments, and fasten your seat belts ladies and gentleman, it may just be a bumpy ride.'

No comments: