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yes.
The tech bubble-burst was saved by real estate, Greenspan holding interest, and pressing questionable home sales tactics. Now that bubble is bursting in a BIG way and everyone is cashing out. 14million questionable mortgages where issued to people that had no way of paying them off. In the next year about 7 mil homes will be foreclosed on as these idiotic ARMS start going higher. Bernanke doesn't know WTF he is doing, so he can't step in and pull a Greenspan to save this thing....
So many bad mortgages out there..... there are even mortgage companies out there that spell mortgage "morgage".....WTF.....those are the lenders?!
Long story short, I hope you like eating rat roasted over a 50 gallon drum fire, and wrapping leaves around your feet in lieu of shoes.
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