Eric spotted this summary article at Bloomberg: Subprime Losses Reach $195 Billion; German Banks Get Hit
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DB found us this: Dollar losing clout around the world. Here is a quote: “Hit by a free fall with no end in sight, the once-mighty U.S. dollar is no longer just crashing on currency markets and making life more expensive for American tourists and business people abroad: Its clout is evaporating worldwide as foreign businesses and individuals turn to other currencies. Experts say the bleak U.S. economic forecast means it will take years for the greenback to recover its value and prestige.”
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Kyle D. sent an interesting piece of conjecture on “upside down” US homeowners, posted over at The Bear Ridge Project blog. Kyle’s comment: “The housing market is currently going down in value, and it will continue to do so at least 10-20% more. There are going to be so many foreclosed homes on the market, its going to take a very long time for the market to reach equilibrium. After we near this bottom, it will be even more of a buyers market than it currently is. At this point, its almost better to currently rent your home, as anything you buy will be upside down shortly.”