It looks like the kind of thing that would be quite interesting. I may check into some of it later. Whatever else the guy has to say, and whatever description he gives of the situation now, has to be balanced against the fact that this type of chicanery hasn’t been witnessed/experienced since 1929.
It really all boils down to gambling on borrowed money. Homeowners thinking that increasing equity would always pull ahead of the huge loans taken on what ended up being wildly artificial (high) real estate values.
For what it’s worth, coffee, cigarette, liquor, etc. are starting to look like the safest form of ‘currency’. Did I mention that I almost came to blows with Trustmark Bank over their initial refusal to accept CASH on a car payment I tried to make last week? There are two more chapters to that story I’ll save for later, but I never thought I’d see the day when a bank would refuse US currency on a payment for a car loan!! I’m so going to blog about it because I got names and dates….
I swear on the grave of my dead mother that I am being 100% honest about my difficulties with getting my bank to accept cash. (We’re talking SEVENTY DOLLARS) I’ll toss you a link with the full story when ready.
Blog it! I’d love to hear their reason for refusal.
You would probably enjoy this series of lectures. It’s broken into small bits, I think the longest one is about 17 minutes but the first few are only 2 or 3 minutes long. I knew most of that stuff in the first 5 or 6 but it was a good review; when he starts doing the graphs from history and showing how the Feds have fudged the numbers FOR YEARS, that’s really fascinating and confirms what I’ve suspected for years. The most terrifying one showed a convergence of national debt, inflation, degradation of the environment, extinction of species, and several other nasty things all on the same “hockey-stick” graph.
I just finished Fuzzy Numbers last night, and will listen to Peak Oil tonight.
An interesting aside to the series you highlight is that there are now some accredited colleges offering all kinds of classes for free online!!
I don’t think you get actual credit unless you’re enrolled/paid, but think of the possibilities for a bright and bored youth who is curious to get a headstart on something other than internet porn!
There must be at least one or two.
Pardon the interruption, and yes I am fully aware that I have left the world hanging on part one of Merry Christmas from Trustmark bank. There’s still plenty of time to finish with THAT yuletide cheer.
In the meantime, for better or worse, here’s a little something I posted over at my blog at Talking Points Memo.