Well, its time to admit I was way early..
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Americans are an optimistic lot. I suppose that’s a result of your history and your having inherited a continent blessed. I started this blog because I was concerned that US citizens had a very optimistic view of the future whereas I see serious economic issues emerging. I havent wanted to post until there was clear evidence that my hypothesis, that the subprime mortgage market would cease to exist and that financial problems would spread to the Alt + and jumbo loans and eventually to the banks and of course, the stock market.
Now its time to start again and I’d like you to take a look at this site which records that 41 sub prime lenders have hit the skids in the last two and a half months.
Its time for Americans to think about the economic implications of the war and the Administration’s budget laxity.
Early but not wrong at all.