Scariest Thing I’ve Seen in a Long Time

Via Atrios. 

I’ve had a bad feeling about the economy for a long time, especially since the housing bubble burst. 

But I’m self-admittedly uneducated about the economy.  Jim Cramer, though, is not.  Follow the link and watch the video. 

Here’s one of the milder comments (transcribed myself so sorry if it’s not exactly accurate). 

Fourteen million people took a mortgage in the last three years.  7 million of them took teaser rates or took piggy-back rates.  They will lose their homes. 

Explore posts in the same categories: economy, housing, incompetence