The Big Walk Away

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This is another in our occasional series, The Best of Thanks to Schonthaler for their thoughts!

The Big Walk Away is coming.

It’s only a matter of time before the Big Walk Away becomes even bigger. That’s right, when you get right down to it, why does anyone have to meet their obligations? Just take the Big Walk Away. Why should homeowners try to make payments on over valued property? Just walk away and all your troubles will be over.

In fact your Government is telling you not to worry, Uncle Sam will bail you out. Your government is bailing out huge corporate institutions at time when the Federal government can’t meet its obligations. So why not walk? You have nothing to lose. If leveraged buyouts were rewarded and are now backstopped by your tax dollars, then why not get some of your tax money back?

Now thousands of individuals are taking the Big Walk Away. But wait, is it limited to just the consumer? No. Every institution will take the Big Walk Away – everything from Corporations to Cities to States.

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also provide analysis and charts for David Stockman's Contra Corner which I developed for Mr. Stockman. I’ve had a wide variety of finance related jobs in the past 44 years, including a stint on Wall Street in both analytical and sales capacities. Prior to starting the Wall Street Examiner I worked as a commercial real estate appraiser in Florida for 15 years. I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. My perspective is not of the Ivory Tower. It is from having my boots on the ground and in the trenches of the industries that I analyze and write about today.