>

8/21/10

Jettison and Salvage

Flotsam, jetsam, lagan and derelict...

These days I have no idea what to think about how the deepening economic crisis will proceed. We're certainly deluged with information about it. Does it really matter what graph we look at? Which blog we read? What channel we watch? Realistically we all know one thing, we're in for one heck of a Day of Reckoning and the bottom line of it is debt.

A lot of debt is owed by a lot or people, businesses and governments, borrowed from a lot of people, businesses and governments, that can't pay it back. There's even a question if the money was ever real. It's all in such a big knot too large to unwind so it will unravel. Rapido. At the core, it is that basic.

The news seems grim, America is holding it's breath and pulling it's gut in. The stock market will crash, houses will sell for 10 percent of what is owed on them, banks will fail, unemployment will skyrocket. Prognostications range from doom saying to revolution to enlightenment with some distinct popular trends developing among the variations.

There are a lot of graphs, charts, visuals and words out there to elevate what is already Drama on the High Seas. I'm not oblivious that there is going to be a lot of flotsam, jetsam, lagan and derelict floating around all of us after havoc is wrecked. It's still not clear to me though what purpose all of this information serves to prepare us for dealing with a long-road-back future.

Think I'll  just decide what to jettison, what to tie down and mark ligan, what to let go derelict. Salvage is ongoing and I can't really do much about what goes flotsam


Just in case you did want to look at yet another graph

Today's House Prices Are Still Higher Than The Previous Bubble High
from Business Insider
David Michael White




Michael David White is a mortgage originator in 50 states