Jim Kunstler Saw the Subprime Fiasco Coming

Jim Kunstler, author and commentator on current events, saw the subprime mess coming as early as October 17, 2005 when he wrote: "Meanwhile, the mortgage industry, a mutant monster organism of lapsed lending standards and arrant grift on the grand scale, is going to implode like a death star under the weight of these non-performing loans and drag every tradable instrument known to man into the quantum vacuum of finance that it creates."

For more of Kunstler's thoughts and writings see his Web site.

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Posted November 23, 2007.