$5 Submissions'
:
There's a scene in
Pulp Fiction when Travolta and Samuel L. Jackson were congratulating each other after cleaning up brain splatter from their car. Harvey Keitel said Well,
let's not start sucking each other's dicks quite yet to let them know that they still had to dispose of the body.
With the Dow blowing up from the lower 6000s to past 10000 within a year and GDP supposedly popping up past 5% and other markets like Australia making fast strides out of the recession, the global financial market (discounting the drama over the euro's PIIGS problem) might be in the mood for some celebratory circular cocksucking.....
Well, this piece of unwelcome news is sure to pour some sobering PISS on any talk of a swift financial recovery in 2010:
New wave of foreclosures by end of 2010 is feared
About 4 million U.S. homeowners are 90 days or more delinquent on their loans or in foreclosure proceedings, Moody's Economy.com says. A federal loan modification program is helping a relative few.
SOURCE:
http://www.latimes.com/business/la-f...,7573498.story
Immediate impact: helps deflate any upswing in home prices. Prolongs the asset deflation mess.