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right, and when exactly did you see the big wave down coming in? February? October? piss poor analogy to surfing

"You mean the mortgage market?" Shoeshine, the chart in the link was all debt public and private. Public debt is at about 100% GDP, all the other is privately held. I put direct gov't responsibility for an increase of 20%, but all the rest is just plain old folks buying things and tapping out...

The reason that irresponsible people are getting bailed out is that a good part of them are minorities. That's where politics has taken us.

Quote from just21: So why is the dollar going up then? If I could calculate causual relationships between events and prices, I would be a billionaire.

Shoeshine, good articles and points, but I would argue that the root cause of this debt is points 1,2 4-7. Economics is all about the psychology and productivity of individuals at its root, consumers bear much of the blame. Gov't explains about 20% of the increase in debt as a percentage of...

why do we find ourselves in the supine position? we all keep running it through our heads and there is a lot of good commentary, but hey we need another thread 1) Trade. The benefits of trade lie in the law of comparative advantage. The problem is that americans have no absolute advantages...

My wife and I are taking on a mortgage payment of 14% gross income, which includes property taxes. We are nervous. 38% of gross income payment?? these people need to be allowed to be out on the street.

Mr. Martinez is about to get bailed out by the rets of us.

So is the sub-prime market alone to blame here? Seems like a general real estate bubble may have had a large impact when prices started to fall. Credit was too loose for too long (hey there Greenspan!) This is why I keep coming back to the leverage issue. The bubble was fueled by explicit...

bend over and lube up boys... NEW YORK (CNNMoney.com) -- The Bush administration is set to unveil on Tuesday a potentially extensive new program to modify mortgages and help at-risk homeowners and stabilize the battered real estate market. The plan centers on Fannie Mae and Freddie Mac...

yeah, I think you are right. thanks

hey where is stock trad3r today? getting another payday loan? I'm feeling a little less confident about my shorts without him.

and americans over leveraging their paychecks as well, it seems to be a cultural problem.

Bush is such an enigma to me, neither conservative nor democrat... what the hell is he anyway? Democracy doesn't work, people are just too selfish and dumb. Look who South Dakota elected for the senate, that guy who can't even talk. Gov't now owns huge swaths of the shittiest part of our...

jon, they may directly hold only 10% but they indirectly guarantee almost all the rest. Even when a place like countrywide made an equity loan, some of those loans found their way in security bundles that had implicit guarantees from GSEs. CDS's were the markets's way of saying 'holy...

Which political party wanted poor people in homes? Which political party blocked attempts at stopping the problem early? that's pretty much all one needs to know

Again and sadly you miss the whole point, fannie and freddie are directly or indirectly inolved in about half of all mortgages, not 10%. You seem to have no understanding of the secondary market. More importantly, they instigated the entire CDS market fiasco, in fact they used them. Without...

I still can't believe it, how the democrats managed to fuck up this housing market and then blame republicans and capitalism. They are far better actors and politicians than conservatives. To demos, all that matters is power and the ends justify the means. Some lib in here, I can't remember...

I think Buffet will be wrong this time about the markets, and his faith in Obama is a ruse. Buffet is simply trying to position himself for the coming new socialist order, much like the Kennedys did with FDR.

Nice way of admitting the kind of scum you are. you're so damned witty, I give