Monday, July 14, 2008

They Rob You With A Fountain Pen

“As through this world I’ve wandered, I’ve seen lots of funny men;
Some will rob you with a gun; And some with a fountain pen."

Woody Guthrie

Look out folks, you’re about to get fleeced. We’re getting sent the bill for the bankers’ bacchanalia. They had the party, made off with the dough, and we’re going to end up paying the price.

Here’s a brief description. Housing prices continue to fall. Down some 8% last year; another 8% in the first quarter this year, with a long way to go. By next year, experts predict one in four homes with a mortgage will be underwater – worth less than what is owed.

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