it may crush the existing structure of Fannie and Freddy and drag the economy further down, no matter how many dollars the fed throws at it

here are the events:

each individual event will have no visible effect, but combined will crash the economy:

these are all pending events, many listed on MW as individual events, but no one looks at them all together – but that is how we will feel them in our wallets

financial:

- the next wave of ARMs will start to reset,

- mortgage rates will go up,

- the next wave of foreclosures will hit,

- the default on holiday expenditures will cause more chapter 7 and 13 filings,

- retailers will know how little they made, and many will go chapter 11, or just close

taxes:

- the fed will start seeing how little revenue they got from business because of COBRA extensions and funding, and push for new taxes

- states will start locking in on the lower incomes from wage taxes, and looking to raise taxes,

employment

- employer hiring will slow even more, as the employer tax mandates for health care kick in

- employers will see the new unemployment tax rates which will come due, and lay off or not hire to be able to meet those expenses

- seasonal job losses will be posted as the holiday labor surge ends

- this also be when the numbers are issued for the “new” unemployment extension enrollment and it will “true” the unemployed picture,

health reform effect:

- consumers will see the effect of the new FICA rates and cut spending even more

- the 40% luxury tax on those fine health plans will kick in, and families will see a 20 – 30 % drop in disposable income

- the insurance companies will pass on the taxes they have under the new health bill, and that will cut another 5 – 10% off of each person’s disposable income

- the manufacturers of medical products (tampons, bandages, medical wipes, chairs etc) will pass on the tax they were given, further affecting disposable income

- the Fed will have published the health bill details – and states will see how much they will have to pay, forcing tax increases

- insurance company rates will climb as a result of the new health plan taxes, effective immediately

banking:

- FDIC will collect next 3 years worth of fees to cover the depleted funds from the bank failures

- banks will tighten lending even more, as they scramble to meet the FDIC “tax”,

- 10% of banks will become financially unstable because of the depleted reserves and will be taken over by the newly funded FDIC

and so the next economic collapse happens -just in time for the elections

those that remember history will see that this perfect storm will make the impact of the “luxury” tax and it%