James Howard Kunstler on the Coming Mortgage Collapse

Jim Kunstler only blogs once a week – but it is always a doozy – here the author of Clusterfuck Nation muses on the state of US finance:

A tsunami of nausea seems to be sweeping across the media now in recognition that the Potemkin edifice of mortgage finance is imploding like a discarded Las Vegas casino. What it comes down to is that several species of newly-engineered financial Frankenproducts have been based on loans for houses that will never be paid back.

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Gay Hoosier Taurus INFJ ex-playwright pianist gymbunny published author in San Francisco. Tw · Fb