Subprime market crash
Filed under: Uncategorized on Monday, December 3rd, 2007 by moran | No CommentsSo everyone knows that the recent troubles in the stock market and the ongoing uncertainty is caused by the bubble burst of subprime mortgage loans in the US. This, amazingly, affects most of the worlds economies, including my little portfolio. Though I knew all this for a long while now, I had only a vague idea of how this happened, or what the hell are subprime loans.
Surprisingly, all the answers came in a well written (not surprising) blog post from David Byrne. Yes, I get my economics from the former leader of the talking heads himself.
Anyway, if you want to make some sense out of all this go read his post on the subject. It’s good stuff.