Repossessions still the greater and growing threat
I saw the same couple on Channel 4 News referred to by D. Rumsfeld at 05:28 AM. It was indeed gut-wrenching! I have been stressing, here and elsewhere, for some time, that home repossessions are an area of the present panic most open to governmental influence where the penalty for the present policy inaction is most likely to lead to the direst consequences for society as a whole. The latest international stock market collapse hugely increases the masses facing negative equity thus swelling the numbers considering walking away from their loan commitments and payments. Local government and charity cash losses in Iceland will be as nothing if large sections of Britain's working population feel justified in turning their backs on their homes and obligations.
Labels: Credit crunch, repossessions
1 Comments:
I agree with ur statement "The latest international stock market collapse hugely increases the masses facing negative equity thus swelling the numbers considering walking away from their loan commitments and payments".
Where are we going actually? Is this an end of the financial world? 1987 crisis was a prophesy it seems.
Andrew Abraham
MyInvestorsPlace - trading, value, investing, forex, stock, market, technical, analysis, systems
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