HowardIt's the Crunch at your ...Finger tips
October 3rd 2007 12:08
Goldfinger- He loves only gold.
Crunch Finger;
He's the man who wants to crunch all the credit
This could be it;
Strangled monetary system (doo doo doo)
Going down because debt just overwhelms
And drowns the realm;
Marketplace talk will drone on and on;
But you know what phase you've come upon;
Because endless cash, inflation is the name;
When it ends thats the end of the game;
He loves only gold, only gold, only gold!!!!
(to the tune of the theme of "Goldfinger")
With the credit crunch, we are into the Dr. No range of the universe, that is, no way out, without some ideas from Larouche. Here is an example why:
Pending U.S. Home Sales Plunge to Record Low
The National Association of Realtors' index of pending sales of existing-homes, fell to 85.5 in August, a sharp drop of 6.5% from July of 2007, and of 21.5% from August of 2006, the NAR announced Oct. 2. The index, which sits at its lowest level on record, measures the number of Americans who have signed contracts to buy previously owned homes, although the transaction has not yet closed. The index's deterioration, which fairly closely indicates future home sales, shows that the housing collapse in the U.S. is a good way from its bottom. They still have to get a mortgage to buy real estate. That is where the credit crunch really hits. Will the mortgage money really dry up?
Image from: Really Long Link
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