Tuesday, August 18, 2009

Headlines that are obvious

Every once in a while i read a headline that is so obvious i can't believe 1. someone got paid to write the article and 2. an editor didn't suggest a different headline.


In a past post I brought up a cnn headline that told us that helmets help prevent head injuries while skiing.

Well, CNN did it again with a, "it's so obvious am i missing something headline." It read, "Jobless spike compounds foreclosure crisis" Besides this being the most obvious statement since...well, that helmets help protect the head.

The article went on to say, "The country's growing unemployment is overtaking subprime mortgages as the main driver of foreclosures, according to bankers and economists, making the crisis more complicated to unwind."

I would argue that housing prices declining in conjunction with the credit meltdown which led to people losing jobs has been the main reason we have massive forclosures. Subprime mortgages were a very small portion of all foreclosures in a nominal sense (i think and will look that one up later). What i do know is a fact is that people were defaulting on their loans long before the interest rates on the loans adjusted (not sure of the connection there but felt like adding it).

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