Quote:
Originally Posted by HitHard17
Also, in the long run, BAC has strong exposure to consumer debt. As jobs decline, unemployment and foreclosures skyrocket, credit card default will likely be rampant. This, along with the hangover from the mortgate debacle will likely weigh heavily on banks like BAC. ...
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Im not feeling a great vibe from any financial investment this year. Right now lots of jobs are "in limbo" just waiting to be deleted. Lots or mortgages, loans, and credit debts, which banks rely on, are on the verge of being inrelaible sources of income. Also, with the presidency hanging in wait, lets say the troops overseas are brought back, and those in the reserves will need jobs when their job is done "over there". The job market and the economy, i believe, is awaiting a truly "savage" era. I think that what we are seeing now is just the tip of the iceberg. Companies that market and sell "real" products across the oceans or the oil industry within the US borders is the direction I am headed. I dont think even Bank of America is safe from what lies ahead. This new era is going to give birth to a new species of financial institutions and the ways we are used to doing in regards to finances are going to change dramatically. Fear is the main reason why some species of animals arent extinct. I embrace fear, but also utilize it.