Friday, August 3, 2007

As the bubble slowly deflates

Richard has a couple good primers on what's going on. To keep our consumer culture afloat, apparently at least on financial talking head is suggesting that those who got saddled with those adjustable rate mortgages during 2006 walk away. That someone would openly make that suggestion indicates just how dire the situation is getting. This is one of those times I'm actually thankful to be both too poor and too cheap to get sucked in to that particular bubble.

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