It’s the last game of pass the parcel. When the tech bubble burst, balance sheet problems were passed to the household sector [through mortgages]. This time they are being passed to the public sector [through governments’ assumption of banks’ debts]. There’s nobody left to pass it to in the future.David Bowers of Absolute Strategy Research
Solomon and the Temple (3)
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When David spoke to Solomon near the end of his life, his misquoted what
God said, probably because he did not understand it.
You will have a son who will ...
15 hours ago
1 comment:
Great Blog! Just put you on my blog roll ... And as for that passing the bucket through mortgages ... only too true and only the beginning:
Of Mortgage Brokers, ARMs, Attrition and Marathons
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