Bankaholic Shows What Really Went Wrong with Economy

Bankaholic, which is rumored to have sold this morning for $15 million, explains the ecnomic mess and how we got there… Can we take it?

Bankaholic is a blog that has a very good summary of why we’re in the economic mess we’re in.
Current State of the Markets puts us on a clear understanding of the derivative market and how that affects everything else in the economy, including our real estate.

 

Incidentally, John Wu just sold  Bankaholic this morning for the rumored amount of $15 million; as is being reported by Problogger Darien Rouse. We have reason to believe this is true.

 

Regardless, the article Wu put up on Bankaholic by Hank Brock –One More  Time…Let’s Understand This Economy Now covers what we can do to insulate ourselves from this wild gyrating market which will probably doom a lot of distressed homeowners as well as some reckless real estate investors.

 

Here’ s a chilling quote which sums up most of this economy’s stupidity …

 

"… today the consuming public have been cannibalizing their net worth under the stupidity of home equity loans, living high, going to Tahiti, on equity that sometimes took generations to grow.."

Read  Current State of the Markets  

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