It isn't only the home mortgages. The wife works in non-accurals at a Texas based bank. Her non-accural COMMERCIAL loans have been increasing every month. In September her non-accural commercial loans went to $160,000,000. The businesses are borrowing to meet payroll. Some businesses borrowed to expand their business because of the forcasts and real orders in the 1990's which indicated that they needed to expand to meet the increasing orders.
Everything started to go into a decline back in 1998 as work moved offshore to more lucrative labor markets and has been accelerating every month since. You can see that in the USA trade expenditures which keep increasing every month. We could stop some of it by using protectionist trade policies but it won't work forever as we are not alone on this planet.
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Today's Featured Article - The Rescue of a Fordson F - by Anthony West. Introduction I live in the UK and have for many years restored Fordson tractors (in the main model N's). I have also restored and shown model F's, E 27N's, Field Marshall Series 2, David Brown Cropmasters and the old rey Fergeson T 20. At one time I had seven restored examples which were shown and used in ploughing matches. As most restorers, I have a number of war stories I can relate on a range of topics that may help other like minded and interested people. Perhaps my first p
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one 8n and one 9n tractor. totaly restored,pretty much everything is new. one 6ft blade good shape.
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