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“WSJ… Collapse of Mortgage & Housing Markets DRAGS DOWN DOW JONES…”
By Sherman Ragland | August 14, 2007
The stock market (as evidenced by the Dow Jones Industrial Average) DROPPED 207 Points today.
The Wall Street Journal (WSJ) is reporting that Poor Earnings At Wall Mart & Home Depot Were The Causes For the HUGE Drop.
Bottom Line: When people stop buying homes they stop buying STUFF related to homes, and when Consumers Get Scared, They STOP SPENDING. And When The American Consumer STOPS SPENDING, BAD THINGS HAPPEN…
On a related matter, Both Countrywide Mortgage and Thornburg Mortgage saw their stocks whacked in half today.
Volitility in the stock market will only get worse as housing starts this week probably contribute positive news into the financial markets. Unfortunately, it does not matter what gets reported this week, because anything that is reported this week WILL NOT reflect what is really going on with housing purchases since the mortgage market started to meltdown a couple of weeks ago.
Good news this month, then followed by really, really bad news next month, or next quarter will only make the financial markets more volitile as we go into the October stock selling season.
Nows the time for REALINVESTORS to start getting their money ready. The weak are leaving the market in droves and we are entering the “early phase” of the best real estate BUYER’S MARKET, since the mid-1990’s, during the RTC ERA.
The fallout from the “Neutron Loans” going off all around us is taking place now, and soon it will be time to move in and take the real estate.
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Tags: countrywide, dow jones industrial, home depot, neutron loan, sherman ragland, thornburg mortgage, wall mart, wall street journal
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