stop and think about it for a moment, 48% of all US households owe more on their home than it is worth? And Obama's Summers thinks we will be out of the woods by the end of 2009? Start thinking about another round of really big bank failures.
Washington, DC (PRWEB) August 12, 2009
The Wall Street Fraud Watchdog is setting off alarm bells for all US investors, when it comes to buying into a bull market, or that the US will be out of recession by years end. According to the group, "we are in the absolute worst residential real estate market since before the great depression, Congress with their non-stop bailouts is putting future generations at extreme risk, the US commercial real estate markets are about to implode, we are heading for a 12% + national unemployment rate, and Obama's economic guru Larry Summers says we will be out of the woods by year end?" The Wall Street Fraud Watchdog says, "this is not a bull market, it is a BS market, it is a cash for clunkers market, it is unsustainable, and its high time smart investors either head toward the exits, or put yourself in something recession/inflation proof like gold or oil. The news for investors gets worse. Http://WallStreetFraudWatchdog.Com
Question: What about tax free municipals? A broker called and said they could get me 5% tax free." According to the Wall Street Watchdog, " with the diminution of state, county or city sales tax, property tax & income taxes being the worst since the great depression, how are the municipals going to debt service the bonds? The Wall Street brokerage houses or bank investment advisors are simply trying to make commissions, by putting lipstick on a really ugly pig, before the stock brokers have to call it a day and go back to the used car sales lot they came from."
Note: an Alabama county recently asked for the Alabama National Guard to step in a patrol its streets because it has run out of money to pay for its police.
What about the US real estate market, we are at the bottom right? According to the Wall Street Watchdog, "wrong, we are not even close to a bottom. On Wednesday August 5th Deutsche Bank said, the percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market." The Wall Street Fraud Watchdog says,"stop and think about it for a moment, 48% of all US households owe more on their home than it is worth? And Obama's Summers thinks we will be out of the woods by the end of 2009? Start thinking about another round of really big bank failures." (Hint: the biggest US banks that have exposure to second mortgages are doomed because their second mortgage are now, or soon will be worth nothing)
What about US retail & manufacturing? The Wall Street Fraud Watchdog is saying, "forget about retail, or manufacturing for 2009 & most of 2010. Obama's health care express will force many small businesses to either lay off more people, or go out of businesses." Put another way the group is saying, "there will be no 2009 Christmas for retailers, consumers are digging in, and unemployment will simply get worse. Add to all of this President Obama & Nancy Pelosi with their tax the rich, redistribute to the poor mentality, we might not see any job creation in the private sector that is meaningful, or sustainable for the duration of the Obama Presidency."
Could things get worse than what the Wall Street Fraud Watchdog has just said?
According to the Wall Street Fraud Watchdog, "we think things are about to get much worse. Starting with a limp wristed Obama approach to dealing with Iran.If Iran gets an atomic bomb, start thinking about $4.00+ per gallon for gas in the US, because of the instability it will cause in the Middle East." The group says, "even worse, Iran has a big friend in Russia, that wants nothing more than a unstable nuclear Middle East, because Russia benefits greatly from higher oil prices. Add to the mix that Iran's President Ahmadinejad, and you have all of the makings for a biblical type disaster, when it comes to global energy prices, for the next two or three years, and or even longer. This is why Russia backs Iran.If Israel stikes Iran-Russia wins-oil prices go higher. If Iran gets a bomb, the Middle East is unstable-oil prices go higher=Russia wins"
With all this said, most astonishingly of all according to the Associated Press, "The Federal Reserve delivered a vote of confidence in the economy Wednesday August 12th, saying it would slow the pace of an emergency rescue program as the recession appears to be ending." The Wall Street Fraud Watchdog says, "this is lunacy. We are about to see 48% of our nations homes underwater, there will be no quick turn around in unemployment, that will in fact get worse, there will be no Christmas for US retailers, US manufacturing will remain in neutral, and cash for clunkers can only go so far before the Nancy Peloci Congress realizes they cannot print any more money, because our money is worthless."
The Wall Street Fraud Watchdog is all about protecting individual or institutional investors from a greedy Wall Street. Http://WallStreetFraudWatchdog.Com