Sometimes you have to get outside the box to hear the straight dope about what’s been going on in your own neighborhood.
We tend to get bombarded with highly complex explanations of relatively simple situations, which only helps obfuscate what is really going on- in the bond and stock markets, real estate, etc. while the truth or any semblance to a recognizable reality gets omitted.
When the root cause of real problems isn’t just being ignored (100 sub prime lenders go under after years of dubious activity, and it barely rates a mention) by the mainstream press, it is those very same industries who rush in with their hack-flacks out in force to bullshit or “re-frame” or “crisis manage” – who have crucial access to be able to pop up on your boob tube.
Anyway… the Aussie broadcast below explains the problems we’ll soon be confronting are, in a very straighforward, factual presentation.
Good on ya’, mates.
Note: The graphic representation of flow between the bank and hedge funds (and back again) is a wonderous thing to behold.
A “whirlpool of debt” circling the drain? Who will be the first to flush?
A special tip o’ da hat to Housing Panic.