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I'm a long-time reader of TOD and have registered just to thank you, Stoneleigh and Ilargi, for your extensive coverage of recent developments in the financial world. I'm from Poland, which currently seems unaffected by the crisis but of course it's only a matter of "when", not "if". And it won't be easy, which is made even worse by the fact that our local housing bubble burst this summer.
I've been reading many financial websites recently to get an idea what's going on behind MSM distributed news wall but, thanks to you, now I get all necessary information on TOD.
I imagine you may feel disappointed by the lack of major interest in that topic but I'm sure there are many more who appreciate your contribution!
You're welcome :)
There's so much to our current financial situation that's happening behind the scenes. The information is out there, but it doesn't find its way into the mainstream media. People don't realize that a vital component of our society is unraveling and that the eventual impact will be enormous.
As Mr Das the derivatives expert says in the first article, we are at the very beginning of the process. The cracks can still seem to be papered over for now, but every leveraged asset bubble there ever was has eventually burst, and this one will be no different. It's exceptionality is merely in the scale of the excesses that went into creating it, which I would expect to be reflected in the upheaval its bursting will cause. Fasten your seatbelts...