10% of GDP

For years, I saw the mortgage bubble building in the US. People were buying way more house than they could afford and were using mortgages that were not sustainable. Furthermore, the companies giving the mortgages were offering to finance 100% of the houses being bought by the people who couldn't afford them. When you throw collusion into the mix because of the appriasers giving over zealous home values....you have a recipe for a problem. Now the rooster has come home to roost and I fear it could go a lot deeper.

I've attached a link to the Wall Street Journal here; http://online.wsj.com/article_print/SB120839058302821333.html

You might say, "financial news is boring" so refuse to read the above short article. If you do, I will point out one hilight...the article talks about the risk the US Gov't is taking by bailing out the mortgage mess. If they guessed wrong on their risk and they end up holding the bag, they could lose their AAA credit rating. If this happens, it could double the cost of repaying our defecit literally overnight and send the country into a financial tailspin that could be very difficult to recover from. Could this be one of the reasons that the U.S. is nowhere to be found in biblical prophesy?