[Onerom99]

Economic Genius, John Mauldin. Want to know what is going on in the world? Listen to this guy. He's #1 on my trust list.

[AmericaUnited]

One of my favorite analysts too! Always a clear, reasoned analysis. I take what this guy says “to the bank”.

[petercooper]

bttt

[ikka]

Assume that the growth which was funded by MEW as Mauldin calls it, goes away.

That means that essentially all the retail stores like Linens N Things, new restaurants, etc. which have been added in the past 6-7 years, over and above any regular rate of growth, are now part of the overhang and either will be kept open but be unprofitable, or need to be closed.

Linens N Things is already in bankruptcy, I expect a major restaurant chain to fall soon enough.

I am told that restaurant sales are down 25% or more over the same time last year, by someone who works in the restaurant industry. This means that eventually some number of restaurants will have to close.

[DJ Taylor]

And now for the humorous side of what has just happened. I’m glad someone can laugh about it; I can’t.

http://www.dailymotion.com/video/x684wa_the-last-laugh-george-parr-subprime_