Subprime mortages outstanfind are $1.3T or so. A 25% total loss is only $300B. Markets have dropped by a multiple fo this amount. Fear and greed are driving this train wreck, not any rational thought process.
Aside from the herd of lemmings that are rushing to push us all of the financial cliff because it makes for good headlines, exactly what is it that suggests a worldwide recession is looming (or is it now going to blossom into a depression according to the breathless pundits?) Don's point to the equity markets, as they are only predictive and are more likley than not being moved by the heavy hands of a bazzillion hedge funds throwing their weight around. I am intyerested in real data, of which their seems to be precious little these days.
So Much for the Decoupling... [View article]
So Much for the Decoupling... [View article]
So Much for the Decoupling... [View article]