This data from the fed makes me wonder what is going on with all the headlines suggesting that the economic slowdown is coming from hurting consumers. January 10th Consumer Credit data Sure, I get the logic: I am levered, I can’t afford my ARM, I can’t afford higher CC rates, so I can’t spend more. [...]
Have you ever seen a bird flying into its own reflection? For whatever reason, the impact of skull on glass does not seem to teach these otherwise brilliant (read: they can fly!) creatures not to keep doing the same thing over and over again. Although Alan Greenspan has reluctantly admitted that perhaps he should have [...]
As the world markets plummet on MLK day here in the States, the worst-case scenario that I have worried about for a few years now seems like it may be starting to unfold. For those who haven’t spoken to me on the topic, the basic idea goes like this: When people enter CDS contracts, most [...]
It seems like the twilight zone when stepping back and surmising the last year from 50,000 feet. Last spring was one of the strongest bull markets in recent history, and the economy (and real estate market) was humming along with seemingly unbreakable speed. Although the writing was on the wall for many of us, bringing [...]
Been awhile since my last post as I have been out of the country in Australia after a brief stop in Texas for the holidays. Of course you all have noticed that the carnage has continued unabated and even those idiots who didn’t want to admit that the problems in the credit market would spread [...]