The Mortgage & Credit Crisis – Just Where Are We?

Does anybody really know where we are at? I have been hearing the recession word for about a year now and nobody is giving any straight answers. The only thing that seems to be happening is that the government is buying time with all the bailouts and foreclosure relief programs which is only pro-longing the agony.

2 year ago the crisis was being passed off as a sub prime mortgage problem that was contained. Now it has affected the two largest government sponsored enterprises, Fannie Mae and Freddie Mac, led to numerous bank bailouts and has home prices falling and foreclosure rising at the fastest pace in decades.

Yet we are suppose to believe that we are 2 years away from a recovery?

I think we just need to face reality, face that fact that this crisis is far from over. America’s “credit card” is maxed out and printing more money will only weaken the dollar more. We have a long ways to go folks and it doesn’t look like there is any easy answer to fixing this current crisis.