Ruinous Debt to Create Futureless Suburbia
Contrarian Profits (September 25th, 2009) Writes:
In our history, the American nation committed obvious sins against select groups of people, and we’ve paid bitterly for some of that. But now it’s our sins against the land itself that threaten to sink the USA as a viable enterprise.
It’s odd, that in his otherwise excellent blow-by-blow account (”Eight Days,” in the Sept 21 New Yorker Magazine) of the September 2008 Wall Street meltdown that left Lehman dead, and AIG croaking in a ditch, and the banking system in general functionally crippled, reporter James B. Stewart never got around to really describing the cause of it all — namely, the on-the-ground material catastrophe of American suburbia.
It was the worthlessness of the tradable securitized debt associated with all those overpriced (and overvalued) chipboard and vinyl houses, smeared recklessly over the American landscape, that started all the trouble in the first place. And it is our inability to come to
...Alaska, Banking, cancer, car loan debt, car-dependent development pattern, Cleveland, contrarian profits, Eisenhower;, Federal Government, Frank Lloyd Wright, Investing Lessons, James B. Stewart, James Howard Kunstler, Lehman, machinery, Market Commentary, North Sea, Oil, oil fields, Organization Of Petroleum Exporting Countries, Peak Oil, president, Ralph Kramden, reporter, ringworm, Robert Moses, short-lived oil scarcity tremors, St. Louis, still-florid banking crisis, The Honeymooners, United States, Us Government, USD, wall street, Walt Disney


![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)







