Falling house of cards

Last year foreclosures were horrible, but this year foreclosure numbers are 32% higher than last year. In about a year over 20 million houses will be underwater. This means that the home owner owes more than the house is worth. The problem with debt is it works against you in a severe recession. Does that sound like economic recovery to you?

Sony lost a billion dollars because people are cutting back on expenses. It will start to close plants because the recovery is seen as a mirage.