Our financial system is crumbling this week.

[Freed Roger]

I believe it.

Perhaps time they put back personal bankruptcy rules to same protection that businesses and corps get.

[Hungary Jack]

I think it's great that the term "deleveraging" has become part of our vernacular.

[TimeForGuinness]

I believe it.

Perhaps time they put back personal bankruptcy rules to same protection that businesses and corps get.

You kinda wonder if they saw this coming and made bankruptcy harder to file for...

[sighyoung]

[longhornbaseball]

Another fun chart. Everyone is hyperventilating about the pink (which is not a problem). You have to look in very specific places to hear anything about the grey (which is still a problem).

[Freed Roger]

I believe it.

Perhaps time they put back personal bankruptcy rules to same protection that businesses and corps get.

When the Bush administration abolished those protections,
I suspected a massive trap would be sprung.

http://www.wsws.org/articles/2005/apr20 ... -a23.shtml

Clang.

Another fine legacy for the Bush admin -letting financial industry make their own laws. Interestingly a business can bo broke, and it's owners can stay as wealthy and republican as ever.

[maddash]

Another fun chart. Everyone is hyperventilating about the pink (which is not a problem). You have to look in very specific places to hear anything about the grey (which is still a problem).

How much of that liability is tied to the housing market?

There have been some interesting ideas on getting the real estate market back in order. Mayor Bloomberg has talked about an idea where you basically give citizenship to immigrants who lives in a city and stay there for a set amount of time.

He talks about it http://www.charlierose.com/view/interview/11884 at about 45 minute mark

[Leroy]

Fine and dandy, as long as we make them live somewhere in Iowa.

[Hungary Jack]

That pink doesn't job with the widely-cited data that total federal debt as a percent of GDP is well above 90% and rapidly approaching 100%. What am I missing?

[maddash]

That pink doesn't job with the widely-cited data that total federal debt as a percent of GDP is well above 90% and rapidly approaching 100%. What am I missing?

It's a little misleading, as it only goes to 2008, and the public debt ratio doesn't really jump until right after that. It's show it holding pretty steady between 60% and 70% from early 2000 on to 2008 and that matches up with most other charts I've seen.