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.
Leave a Reply