Let me expound upon the above by Shelley. There isn't one aspect of our lives that is immune from the decreasing value of our money and property. The existing costs of goods and services will rise and expand on a global level. It's not just one or two banks having issues, there's a lot, lot more, and these banks are BIG. Not only that, but these banks we rely on for stabilty have been borrowing money not just with China, but many other countries so they can take risks in speculative investment (such as real estate) which are not developing in any beneficial sense. Now, banks are losing out bigtime and still owe billions in loans themselves.So what [rpblems exactly are "we" going to face with this financial crisis?
Well, taxpayers are on the hook now for the multi-billion dollar bail-out of Fannie Mae and Freddie Mac, so we'll have to see how that effects us. If the housing market turns around, it shouldn't effect us, but if things continue to go downhill, we might see it in our taxes. Also, it might have an impact on getting a mortgage in the future, if you plan to buy a house. I guess it's just too early to tell how it will effect us. So what [rpblems exactly are "we" going to face with this financial crisis?
you may have trouble financing your next new car.
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