I would guess we will need to see FAR worse than we have seen so far before any kind of criminal inquiry is undertaken. Clearly Goldman Sachs supposed big recent profit was a ploy to get bonuses to senior staff back on track. The hell with the future of the company. Nice thing about living in a “democracy”… It is your fault for voting for the morons we have in government today, and if you were one of the many who gave up voting because it is all fixed anyway, it is your fault too!!!
Back in 2005 I used to tell realtor’s to expect a 50% drop in property prices in the next few years and millions of foreclosures. They laughed, but I would tell them it was simple 2 + 2 = 4 math after which they shut up and gave up.
I am telling you today the next big tsunami train heading our way is ALT-A along with increased consumer debt defaults, followed by far higher unemployment and more bailouts, followed by the biggest tsunami train wave yet as trillions of dollars of commercial paper die, followed by financial Armageddon as some 90% of ALL debts default, including virtually all retirement funds. But who am I? Just a simple engineer, not a wise economist, so what would I know?
About the time all this is supposed to happen, Obama’s health plan should be taking effect. Or not!
The above assertion is based on the likely deflationary scenario we see unfolding today.
