I've been thinking a lot about the global mortgage crisis that's been unfolding over the past few years. Typically, I see the usual suspects trotted out as the reason: profligate consumerism, greed, banks, politicans, and the like. I thought I would assemble the data, and try to make sense of it from there. ( Collapse )
In conclusion, the current market crisis is not about bad debts. It's about a paucity of good choices and options. People are trying to make do with the paltry means they have: we don't need tighter regulations or irresponsible spending. We need new ideas, and leaders with vision and drive. We need to find ways to make more efficient use of what we have. And, we need to stop spending our children's inheritance.