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Faster Inflation May Unleash `Financial Tsunami'
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Old 06.24.2008
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Clock Faster Inflation May Unleash `Financial Tsunami'
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June 24 (Bloomberg) -- Rising consumer prices will leave more U.S. consumers unable to pay their debts and may lead to a "financial tsunami,'' according to Bennet Sedacca, president of money manager Atlantic Advisors LLC in Winter Park, Florida.

"Whether it is anecdotal or statistical evidence, I see inflation everywhere, and this is where the financial tsunami cometh,'' Sedacca wrote in a report published yesterday. "A battered, over-indebted consumer, if forced to retrench, could create even more problems for the banking system as loan delinquencies would begin to rise even further. All sorts of delinquencies are rising. This is now a systemic issue.
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Old 06.29.2008
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Just thinking out loud.........I really believe we're going to see a depression similar to the big one if something doesn't change soon. People losing their homes and living in cars and shelters. These were people making good incomes. People who cannot afford fuel and groceries, not to mention medication. These are the working poor and it's all falling.
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