Chaos in U.S. Economy

July 16th, 2008 | by geo |

Not just stating the obvious, but what is happening with the U.S. Economy? It’s a continuing downward spiral. I hate to be negative but it is true. So many industries are affected… Financial, Real-Estate, Energy, Transportation..and it’s not getting better anytime soon. The average American is now seriously concerned about these issues and the long term impact.

Yesterday marked the third largest U.S. bank failure in history, IndyMac, and there is speculation of more to come. Indymac holds my mortgage, better my debt than my assets!

If you live in U.S. and have more than $100K with one bank be careful - FDIC only insures up to $100k per bank

The really bad news for me. I’m currently selling a house in the mess. I should say “trying” to sell.

Sphere It

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