We're sorry sez JP Morgan

[keepmine]

These are some big numbers.

http://www.housingwire.com/2008/07/17/jp-morgans-dimon-prime-mortgages-look-terrible/

[JRScott]

At least their CEO is admitting things aren't going good. I believe we'll see a collapse in the credit card and student loan markets within 6 months with so many foreclosures. It will indeed I think get worse before it gets better.

[BigJohn]

Which will come first: a major US airline going bankrupt or one of the US Automotive manufacturers going babkrupt? The news say GM is close to bankruptcy but GM says Chrysler is close and if we look at Ford, they are in the sinking sinkhole also. As for airlines, the genius who came up with the bright idea of removing the peanuts from the flights so as to make them lighter should get a special reward. Not sure what the reward should be.

[JRScott]

Wow good question John, I'm not sure. Probably one of the airlines first but that's a guess. If the automakers go bankrupt look for them to renegotiate those generous pension plans.