Comments about ‘Scarcity of jobs puts more at risk of foreclosure’

This is what happens to your neighbors when they lose their jobs, there is no work and their unemployment runs out.

This was the underlying problem back when this all started under the Bush Administration. If people have jobs, they pay the mortgage, even if the mortgage is "subprime". At the time, everyone was focused on the mortgage industry and Wall Street practices, overlooking the need to focus on job creation. While financial reform was critical, it is too bad that Administration did not see the underlying issue. The current Administration does see it. We can debate the means, but they certainly understand the needed end.

U.S. economic growth slowed to 1.6% in the second quarter, the Commerce Department said Friday, equating to two-thirds the rate that the agency had initially projected for the April-through-June period as imports surged. The figures more broadly paint a picture of the $14.58 trillion economy led by business investment, one that data on more recent activity suggest is struggling to grow. Wall Street appears to have been caught off-guard by an upward revision to electricity and natural-gas usage figures, which led to an increase in real personal consumption to 2% from the 1.6% initially projected. The imports surge came as American consumers loaded up on foreign-made goods like pharmaceuticals, televisions and furniture the monthly change in the value of consumer good imports in May and June were the second- and third-largest increases since the series began in December 1993. American's seem to forget what the word's of "MADE IN AMERICA" means, and "buy american". The millionaire's, billionaire's and trillion-airs can hoard all their money in off shore safe havens and bank's all they want to, after all, they had a good teacher.