Divining the News (DTN)

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Economist graph: US House prices falling faster than in Great Depression

America’s house prices are falling even faster than during the Great Depression

Graph from May 29th.

 

 

 

From Asia Times:

http://www.atimes.com/atimes/Global_Economy/JG26Dj01.html 

The debt of the morgatges is held by foriegners :

Today, fully 21% of Russia’s monetary reserves are invested in the obligations of Fannie, Freddie and the Home Loan Banks. And the largest holder of Fannie and Freddie debt is another friendly foreigner, China”, which he says, “owns $376 billion worth of US agency bonds. Altogether, foreigners hold $1.3 trillion of them.”

And Americas debt is generally held by foriegners as well:

Something in the range of 40% of the on-budget Federal debt of $9 trillion is held by foreigners.”

Notice the part about “on-budget” federal debt, which implies that there is an “off-budget” federal debt, too, which is so corrupt that it is amazing that it is allowed to even exist!

Written by morris

July 26, 2008 at 11:13 am

Posted in economy, inflation

Tagged with , ,

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3 Responses

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  1. [...] Economist graph: US House prices falling faster than in Great Depression [...]

    7 Professional forecasters on an economic crash: Already 10 failed US FDIC banks, 9 financial institutions « Divining the News

    July 30, 2008 at 12:59 pm

  2. S&P: Home prices drop by record 15.8 pct. in May
    http://news.yahoo.com/s/ap/20080729/ap_on_bi_ge/home_prices
    H/T http://mparent7777-1.livejournal.com/

    morris108

    July 30, 2008 at 11:49 am

  3. [...] Economist graph: US House prices falling faster than in Great Depression [...]

    Re the Housing Bill; Capitalism saying foreclose will fuel a (needed) revolution. « Divining the News

    July 28, 2008 at 6:08 pm


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