The next big shoe to drop in the US economy is commercial real estate. It’s going to be as bad or worse than residential, and many of the same suckers/bankers/taxpayers will be on the hook big time.
And of course Treasury is working on it, so we better hide the spoons…
About the only good news to come out of the G-8 summit is the certainty that most of the assembled leaders’ bodies will be 2 degrees centigrade or more colder by 2050.
