Fiends In Stocks

[DeepBlue1]

I was listening to some very sober experts last night on Charlie Rose talking about the housing crisis and it's collateral effects.

40% of ALL MORTGAGE HOLDERS will be "underwater"(house worth less than what's owed on it)by the end of this year.

For them there's very little reason to hold on to the houses and MANY will opt to send their house keys back to the bank and walk away. There's even a new term for this phenomenon called "JINGLE MAIL" it's becoming so common.

The spiraling effect of this is reaching across the oceans now too and will likely bring the entire globe into recession as the U.S. consumer finally caves in.