Reader Steven H. wrote to mention: VP Biden puts on his Captain Obvious cape and declares “This is a depression”. Of course, Joe Biden has developed quite a track record for the inability to keep his mouth shut–most notably when he revealed the “secret” nuclear blast bunker beneath the VP’s Residence.
Ralph N. suggested this piece over at Volokh about how the FedGov conceals some of its debt: Treasury Inc.: The Shadow National Debt. (It is hidden under a TARP, dontcha know…)
Commentary from analyst Niall Ferguson: The Dollar Is Dying a Slow Death.
From the Housing Storm blog: Strategic Foreclosure And The Last Man On The Boat
Also by way of Housing Storm: Subprime Mortgage Myths Debunked
Items from The Economatrix: