This teaser caught my eye the other day while I was browsing over at the Daily Reckoning:
Today, reports show that foreclosures nationwide have gone up 93% when compared with July of last year. Almost every state in the country showed a significant bump in the rise of foreclosures, but California, Florida, Michigan, Ohio and Georgia take the cake.The Daily Reckoning, Bailing Out the American Debt Business (fixed link)
The [Digg.com] article
itself points to another article on Rude Awakening, which (regrettably) doesn’t actually cover the factual details of the foreclosure problem either. If, however, the numbers are accurate (and I have no reason to doubt that they are) then there is a financial disaster that dwarfs everything since the Great Depression looming on the horizon.
Editor’s note: Historically there were links to Digg.com articles in most of these blog entries. Digg was an early competitor to Reddit but never as popular. It has since been sold and repurposed as a raw aggregator and a clickbait spam source. I really don’t see the purpose in leaving these old bad links in the articles, so I’m pulling them out. Where possible I will reconstruct a link to the current home of the information, along with a label that actually communicates where it is the link sends you so that the next time the links break, at least a title search will be possible.
Major thanks to the Wayback Machine. Drop by and give them a contribution if you agree.