Summary: It's happening. Gold and oil are up sharply, stocks and the dollar are down, and the job numbers for August in the United States are showing an actual reduction. All this can be attributed to the housing collapse. Unfortunately, that collapse has not yet come close to running its course. It's just building up a head of steam.
What makes all this market instability so much more dangerous is the fraud and criminality that seems to be anywhere in the economy where you turn over a rock. Where would the U.S. economy be without the housing bubble, ridiculous amounts of debt at all levels (consumer, business, and government) and out-of-control war spending?
