ONE SIXTH OF ALL CONSTRUCTION LOANS IN TROUBLE

Mike Shedlock column Banks are hiding almost ALL the trooubled loans on their book at 90% of face value, when most are 50%-70%.

I want a sustainable recovery, we're NOT going to get it with these clowns in charge....the DEEP SEATED ISSUES choking our economy have not been dealt with even as they chortle death to the Recession. Next will be the REDICULOUS Cap And Trade, I bet GS is lobbying to get that thru......more money to the insiders like to Bush friends before Iraq war...different color same results. The average Congressman is either a lawyer and or multi millionaire, surely they can identify with the avg Joe.

Longs PArk outdoor craft show this weekend, packed with LOOKERS.....my guess this will turn out to be the WEAKEST SHOW In their history for actual purchases....you can see it in the vendors eyes, they don't even come over to hock their wares. SAD

We have taken a detour from the bear Market, IMHO I have NO doubts it ain't over.....and to me that also means the LOWS of MARCH will get tested.....and so will the resolve of the average American......maybe in the depths of disgust people will demand REAL CHANGE from REAL LEADERS..not the charictures we end up.....

D