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03.24.09 I realize I haven't been blogging much (anywhere) recently, so I thought I'd at least catch you up on what I've been reading: lots and lots about the ongoing financial crisis. I've mostly taken a pass on the "news" angle (read: the elementary school blather and reductionist hyperbole that makes up most of the coverage on TV) and gone exclusively to the Internets. Below are some of the sites and sources I've been keeping up with. (Warning: confusion and general despair ahead.)
# I've heard this idea whispered around the edges of the commentariate since the beginning of the financial crisis, but NPR's Planet Money blog is the first I've seen to really lay out the full shape and size of the next boogeyman: securitized credit card debt. Basically, it's the same exact thing as the chopped-up-and-repackaged-mortgages that took down the banks when people started defaulting on payments. Only these are made up of our credit card debt. Which is much, much easier to give up on and walk away from than a home that you can no longer afford. In other words, take a pass on that next "Low low introductory APR!" offer and hang on to your hats. # « February 2009 | archive index | May 2009 » built with movabletype |
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