Eugene David
...The One-Minute Pundit

Monday, December 17, 2007


Blimey! England has Babbitts waving mortgages too!

"We are in a different world compared to previous housing downturns," said Shipside. "It is a world of international banking interdependencies, and a world in which the robustness of the U.K. housing market has never been tested."

TRANSLATION: When we financial types want to start a potential global depression we're the masters at concocting excuses.

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