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Old 03-17-2010, 11:16 AM   #8
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Join Date: Nov 2009
Posts: 192
Default Re: Predictions for 2010 by Economic Prophets

Then they carry you away to the small house and you still have to pay the debt when you get out.
I see it differently. The whole hyperinflation favour those who are in debt.
When inflation hits big time, most of mortgages are reset every 3 months,
you have an opportunity to do a lot with it, unless government gets envolved.
It's like you mentioned with your car. I know it was fixed, but 3 months is a lot of time and those who have the hedge will find themselfs paying of $100 000 with 1kg of silver
Same thing happend in Poland back in the 90s, when intrest rates where around 50% one year, in spite of this people where paying of mortgages with like 2/3 months pay,
if you had strong currencies you were a big time winner.
One has to be mentaly strong to see light in dark times, but when they come it will be satisfying.

My friend from Florida told me yesterday that his bank approached him and said that government is requiring all non performing loans be called in and he has to make a difficult decision wheather to walk away or pay overvalued mortgage.
I wonder why such a directive in those time? I guess only to cover bankers a$$es!
Here is an interesting article peaceandlove posted form zerohedge.

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