Stressed borrowers use plastic to delay default [1]
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Writing in his most recent quarterly newsletter, economist John Mauldin [2] mentioned: “…at the end of the second quarter, household mortgage debt [in the United States] totaled $10.143 trillion, compared with $4.295 trillion in 1999. Thus, in six and a half years the household sector’s mortgage debt increased by $5.8 trillion, or 136%.”
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Chester sent us a link to a hilarious YouTube video on hedge funds, credit derivatives, SIVs, and government bailouts [3].
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Thanks to Eric S. for sending this article: NYSE Eliminates Trading Curbs Dating Back to 1987 [4]. Now wouldn’t it be ironic if…