"Foreclosures Jump 57 percent In Last 12 Months"

"Foreclosures Jump 57 percent In Last 12 Months," see http://www.reuters.com/article/topNews/idUSN1435957820080415?rpc=64.

Here's part of the article:

"Home foreclosure filings surged 57 percent in the 12 month-period ended in March and bank repossessions soared 129 percent from a year ago, as homeowners struggled to make mortgage payments, real estate data firm RealtyTrac said on Tuesday.

"What we're really looking at is ongoing fallout from people overextending themselves to buy homes they couldn't afford and using highly toxic loan products to get into the houses in the first place," Rick Sharga, vice president of marketing at RealtyTrac, based in Irvine, California, said in an interview.

"We're going to see quite possibly a record amount of foreclosure activity in the third or fourth quarter," reflecting sharp payment increases on adjustable-rate subprime mortgages in May and June, Sharga said.

One in every 538 U.S. households living in single-family dwellings received a foreclosure filing in March. The single-family dwellings can include condominiums."

The real estate/too easy mortgage boom from 2002 until early 2006 was very inflationary. The current bust is obviously the diametric opposite/very deflationary. Combined with plummeting major world stock markets, many annihilated financial stocks, plummeting money market rates and bond yields, plummeting credit/debt instruments, real estate bust, etc and it's pretty obvious that the environment is very deflationary.

Many gold writers, usually the same ones who don't understand basic technical analysis or are simply pumpers/pimps, are talking about how much inflation there is. Are they kidding????????????

.......http://www.JoeFROCKS.com/ .