I wish they would have gave me a link in this trivia post. And Ryan thinks I am a conservative! Doah

But oh well, at least I still have the poster. :)

The Bank of England commissioned a study which explained that subprime mortgages are a rather small part of the economy as a whole. As long as your not foreclosed on it is easy to call the issue trivial.

Early reports were that black Friday went well, which is surprising given the silent inflation occurring in the US. How long will consumer credit scores stay afloat? Or are credit cards the next subprime mortgage?

You can see the decay of the middle and lower class just by looking at the growth of payday loan businesses. Even Warren Buffet admits that the tax code is rigged to help the rich at the expense of the poor:

The taxation system has tilted toward the rich and away from the middle class in the last 10 years. It is dramatic and I don't think it is appreciated. And I think it should be addressed.

The bankruptcy law rewrite helped increase foreclosures, which (along with shady credit ratings and subprime mortgages) caused a breakdown of structured finance.

Federal Reserve chief Ben Bernake is worried about slowing growth AND rising inflation. One would suppose that an annualized growth rate of M3 of over 14% is not the solution to any problems, and might cause some.

I love when Frank posts on economic stuff.