Influx

A couple of months back, sociologist David Harvey spoke to an audience at the Royal Society for the encouragement of Arts, Manufactures and Commerce (RSA) in London. His talk was all about explaining the recent crisis as a crisis of capitalism and something that warrants deeper exploration, at...

It looks like Americans are becoming allergic to debt, the numbers had been accelerating upwards every single year, The Fed started records in 1979, now it looks like they are tumbling downwards. What defines a country when new homes, new cars and the debt financing of those material possessions...

If you look at the data on credit, it's clear there's a massive shift underway. Consumers have become fanatical about cutting back on debt. October credit fell by $3.5 billion (-1.7% year over year). September's decline was dramatic, $8.7 billion. October marked the ninth month of declines, a trend...

Here's a great visual from The Deal that explains the packaging and re-marketing of credit. Sort of explains how the badness was turned into goodness and everyone slept soundly at night until the day they realized the badness was real bad. It's also the system that propped up the consumer economy....