: James Howard Kunstler
at Clusterfuck Nation
: The American economy has problems
: 1274 words
: Dancing bears, pigs ("big fat 'pig' of adjustable rate mortages"), pythons
: "And then what happens when the Federal Reserve has to eat all the
uneaten treasuries, while it's already choking to death on
collateralized debt obligations and related worthless toxic trash
securities?"ANOTHER GOOD QUESTION
: "Why would anybody think that the housing market is going to keep levitating?"
: "Upchuck the 'phantom inventory'"
: "Vast oversupply of malls, strip malls, office parks,
and other furnishings of the expiring 'consumer' economy'"
JUST HOW BIG A PROBLEM IT IS
: "About to become the biggest liability that any economy in world history has ever seen"
WHAT'S GOING TO HAPPEN
: They'll be appropriated as "squats for the desperate homeless"
: "These are the things that trouble my mind at three o'clock in the
morning when the wind rises and things bang around spookily. Gird your
loins out there for a savage season or two."
Want to add to this story? Let us know in comments
or send an email to the author at
hhorn at theatlantic dot com.
You can share ideas for stories on the Open Wire.