14 OCT 2010, Thursday (AM)

• This foreclosure thing is bad.  Sure, banks did some dodgy things.  However, ultimately, those that bought houses they couldn't afford, and then even took out second mortgages, made poor decisions and should realize that. 
• JP Morgan provided some interesting data on how slow foreclosures are going.  Basically, the time between when foreclosure notices go out, people stop paying mortgages and are eventually evicted they are living rent free for a long time.  A couple of examples of state averages:
• Average for all states  --  1 yr 3 months
• Florida  --  1 yr 10 months
• New York  --  2 yrs 2 months
• I guess that makes the rest of us folks saps.
• Below, Producer Price Index shows 4% year over year change for inflation...NOT the "no inflation" the government reports to you.  They report without food and energy which happen to be the very things you need to survive and must always buy at whatever price.