Casey’s Charts – Bankers’ Headache Getting Worse

August 14, 2008

Delinquency rates on single-family mortgages have reached their highest level on record (the Fed started tracking this statistic in 1991), dragging up the delinquency rate on all loans held by U.S. banks. This chart is more proof that, despite lowered interest rates, there are a record number of mortgages in the hands of subprime borrowers who can’t make their payments.

These delinquency rates show that the financial system has not emerged from the credit crisis, but rather, entered a new stage where bad loaning schemes are blowing up in the face of the bankers who created them.

Take advantage of the seasonal trends moving today’s markets

Right now is the perfect time to get into underreported—and often undervalued—resource stocks covered by The International Speculator. It’s the Shopping Season, as Doug Casey likes to call it, the summer period during which the junior resource companies spend their time digging and drilling, and very little news comes to the stock market. Many investors confuse no news with bad news, and share prices slump.

Not forever, though. Once the summer is over, share prices will rise again, bringing smart investors a much-appreciated windfall.

Learn more about The International Speculator here.