DXI Capital Corp. (DXIEF)

[Jagman]

I doubt many stocks will do well next year....the USA has done a great job screwing up the world economy by giving home loans to people that can't balance a checkbook. It's going to take years to straighten this mess out....it took about 13-15 years to create it.... The more bad info that comes out the more pessimistic I become. Now the prime borrowers that got funky loans planning on refinancing before "adjustment" takes place can't do it because their house has dropped in value...even if they don't lose their homes, they can't afford that new car. I see closed banks when I drive to the store now. Good thing chicken is still cheap and we still like it...we refuse to buy steak. The only good news is most Americans are fat enough to survive cutting back on food for a few years.

All sectors will be affected because the American consumer can't afford to be greedy anymore...for a long time. The illegals were the first to lose jobs in the construction industry and they aren't even reported....now others are worried about their jobs with increasing layoffs. States and local municipalities are already cutting back because sales taxes and property taxes are not being paid. It's getting scary...short term plays only in the market for the volatility or use the shorting ETF's...they have big swings too.

"Fannie, Freddie blind to the bubble
Saturday September 6, 8:06 pm ET
By Alan Zibel, AP Business Writer

Mortgage finance companies Fannie Mae, Freddie Mac failed to anticipate scale of housing bust"

http://biz.yahoo.com/ap/080906/mortgage_giants_what_went_wrong.html