Wake-Up Call - 11/14/11

The Devil Is In The Details

The story of Greece. The ugly choices. The absence of any solution. The problem for MF Global’s clients. Why real estate prices will remain low indefinitely. The horrendous predicament of underwater mortgage holders with CNBC now claiming that fully half of all U.S. mortgages are underwater. Costs of selling and then buying a home and secondary financing are killing demand and will continue to do so for the foreseeable future. Inequality in America. The poison of fractional reserve banking and the associated impossibility of the math when it comes to people repaying debt. Again, the Fed needs to go. Goldman Sachs very pessimistic on the economy (projected 1% growth for 2012). Americans want everything: no spending cuts, no tax increases, no pain…

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