Friday, September 26, 2008

Chronicles Of Depression 2.0: #246: $46T

On CNBC, I heard the highest trillion figure I've ever heard applied to this crisis: forty-six trillion dollars of housing underlying the crisis.

This is in America alone.

There have been real estate bubbles in other countries during this time too: England, Ireland, Spain, and others. They also have problems. (See, for example, Denmark.)

Forty-six trillion dollars.
Men's hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken.

-- Luke 21:26

Be alert. But don't fall into fear.

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