Debt Rattle, July 27 2008: The Increasing Decrease

Dorothea Lange Two ForksOctober 1939 "Hay forks. Northern Oregon farm. Morrow County, Oregon." Ilargi: An IMF working paper was published this week (see article below), and has gotten little attention -which is a bit suspicious-. If we take the "gloomiest" numbers from the paper, US homes were overvalued by 20% in early 2008, and will come down by that much, as well as swing well below their "