Contrarian Chronicles

I can't go a month without posting on the continuing credit bubble implosion in the US and A.

Home-loan house of cards ready to fall. MSN Money, emphasis mine.

This will, and should, take years to play out. (Federal Reserve Chairman Ben) Bernanke will yield to the Lobby and the Street, trying once again to lower rates and allow people to bail themselves out, while in turn allowing the buyout firms of the world to overpay for the companies they buy with easy money. The game is so rigged against honesty, it boggles the mind. I worry about our children having a chance to have a future, at this point.

Florida Downturn “Came Out Of Nowhere.” The Housing Bubble Blog has several posts like this a day from all over the country, and often the best stuff is in the comments that follow. I can't keep up.

‘After about two hours, a house came up for bid that I knew very well,’ Mr. Krecicki recounted. They put up the highest bid, which was $275,000. It was the same house Mr. Krecicki and a partner sold to Ms. Dresner for $435,000.

And another nice chart (I'm still trying to find my original source on this, forgot to when I saved it):