One bubble follows from another
So long as the central banks keeps printing the cash, bubbles will inflate and explode.
Jesse Jackson on subprime
On December 10, the subprime borrowers are marching on Wall Street.
It is a bit pointless, in my view. Wall Street has already heard from subprime borrowers. Bankers already know that there is a problem.
More crisis talk
Banks could be looking at a further $100 billion of losses by the end of the year. Housing will get a lot worse before it will get better.
Carli Blum on the subprime crisis
Here is a view of the subprime crisis from the bed of two female students.
I found this clip hilarious.
California - what went wrong
If you want to understand why housing prices are collapsing so fast in California, this video will explain everything.
US economy
Do you get the feeling that the US economy is going off the rails. This short video will confirm that uneasy feeling.
Inflation
I am going to get intellectual and arty with the next video clip. Here is Hans Richter's 1928 short film about inflation.
Fools rush in.....
A quick tour of the recent housing chart. Somehow, all the charts end the same, with things falling off a cliff.
Bad advertizing.
Here is an advert from a UK house rental agency. The ending certainly has a twist, but I fail to see how this ad would encourage me to become a customer.
But hey, what do I know? Take a look and judge for yourself.
Lost in America
Housing inventory is certainly elevated. Here is a short video of a drive around a NJ suburb. There is a plague of "for sale" signs.
The dangers of home equity loans
Here is a home equity loan scam from England. Be warned, the clips contains a couple of unexplained jumps. However, bear with it, and you will be shocked. Banks offer loans that are proportions of home values. The banks end up with borrowers paying back the value of the loan and the bulk of the price appreciation coming from property bubble. Some borrowers have ended up in mobile homes. In some cases, people have ended up repaying five times the value of the original loan.
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