The sub-prime ARM resets haven’t peaked yet. From the charts it appears Dec-Jan will be the peak. Not trying to push doom and gloom, but the following months won’t exactly be sweetness and light, either. FYI.
Below is ARM chart data. In the first link click the chart to enlarge.
2008 will indeed be a financial roller-coaster year, and when other very unstable components on the international scene are added to the volatile financial mixture, such as Iran's Islamic lunatics & Hugo (The Red) Chavez attempting to use OPEC to crash the Dollar, along with Putin arming all our worst enemies (Iran & Venezuela at the top of the list) plus the Kremlin continuing to expand Russia's military at an alarming rate with billions in soaring oil profits.
More Subprime ARM Reset Data, Growing in 2010, 2011