USA is in Real Trouble
Some people think that the current bank failures in US would not be worse than 2008 Lehman Brothers Subprime crisis but the situation may be even worse. We have a situation whereby consumers were too used to low mortgage rates which was similar to subprime and now, there is an aggressive spike in interest rates. Apart from that,...
Potential loss on mortages
According to the Federal Reserve Bank of St. Louis, as of the end of 2021, the total outstanding residential mortgage debt in the United States was approximately $11.85 trillion. This includes both fixed-rate and adjustable-rate mortgages, as well as first-lien and junior-lien mortgages. (There is no breakdown). The most common...
Street Carts
You could call it a stoke of good fortune, but after bashing out a piece on how people on Vietnam’s streets were setting up street stalls to get by, I ended up having to become a patron of the streets. It was a case of my host not feeling well enough to take me out and so I needed to look for my own dinner. I didn’t really...
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