Once again, Hale “bonddad” Stewart has all the horrifying details:
Goldman Sachs economists estimate that as much as $3 trillion in mortgages could be underwater by the end of the year, leaving 30% of the country’s outstanding mortgages in negative equity. Since there is roughly $1 trillion in subprime mortgages outstanding, that means a large […]

This is a great video, and nicely summarizes what all this wasteful, no-bid, mercenary-laden warfare is bringing us.

Of course, this is not a new way of looking at war and war industries.No one less then that great appeaser, President Dwight D. Eisenhower himself appears to have shared those views:

[…]

AFP reports:
World stockmarkets lost 5.2 trillion dollars (3.6 trillion euros) in January thanks to the fallout from the US subprime crisis and fears of a global economic slowdown, Standard & Poor’s said Saturday.
“If investors thought the market could only go up, January’s wake-up call pulled them back into reality,” the independent credit ratings’ provider said.
Standard […]

That’s the wall Street Journal, finally…
Federal Reserve officials are acknowledging increasing weakness in the economy, signaling a willingness to cut rates again at their next meeting. But inflation concerns are rising among some officials, indicating the magnitude of their next move may be a matter of contention.
…..
Some officials, however, expect growth to rebound in the […]

Looks like the criminal element inside the GOP is beginning to cash out. Could this be the tip of an iceberg of improprities coming to light?
Top House Republicans were told in recent days that a former employee of their campaign committee may have forged an official audit during the contentious 2006 election cycle and […]

Great little piece in today’s Washington Post from Michael Kinsley and the desperate quest of the Republican candidates to out-Reagan each other, while also giving us a nice run-down of the Reagan reality.

On Mitt Romney:
Mitt Romney, meanwhile, kept repeating, inanely, “We’re in the house that Reagan built.” Reagan “would say lower taxes” and “Reagan would […]

Have they told the seniors in Florida yet?
Jeffrey Young reports in The Hill:
McCain plan to scale back drug benefit gets little attention in Florida
If elected president, Sen. John McCain (R-Ariz.) would pursue reforms to Medicare that could lead to hundreds of thousands of Florida seniors losing their current prescription drug coverage. But McCain’s campaign […]

RickyD, the Clinton supporter from Brooklyn, adds more fuel to the fire by asking (And I promise we will run responses) :
Is Obama good for blacks?
When it comes to the sub-prime mortgage crisis, he isn’t…
When all is said and done, the “race” issue was always a canard, but Obama’s people played the victim very effectively.
The […]

Dismissed as something of a light-weight on economic issues, Sen. McCain moves quickly to clarify that he is as big a supply-sider as George Bush.
With recession fears mounting, Republican candidates have increasingly focused on the economy in recent weeks. This presents challenges for Mr. McCain, who has already angered some primary voters with his stances […]