Financial Mess in Graphics

Here's a graphical image of how bad things are across the US (from NY Times) as of December 2007. And to think we're just getting started with interest payment resets. We going to be in a world of hurt once all those funny mortgages reset to new payment schedule.

Copyright 2008, DannyHSDad, All Rights Reserved.

We deserve what we ask for.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.
--Thomas Jefferson

At least some people were aware of the problem when banks have the run of the government (or at least the money of a country).

In the US, the Fed controls the interest rates used between banks. And for some time, they've kept the interest rates very low especially after 9/11. All this caused the housing bubble until 2005 and, for now, the commodities bubble. And we're going through the housing deflation (which I believe will last at least 10 years) and I'm sure the commodities will be next along with the stock market (I'm short with most of my investments). Fortunately in America, we won't have to worry too much about homelessness since most people today have too large home so taking in relatives and friends shouldn't be any problem during the coming long recession/depression ahead.

Copyright 2008, DannyHSDad, All Rights Reserved

The Coming Collapse of the Middle Class