Many (Economic) Hurricanes, Many Eyes

6/22 - "Often times it is not the leading front of the hurricane that does the most damage, it is the backside. Here is the three stage pattern of hurricane damage...The "calm" Bernanke thinks we are in, is nothing more than the prelude to the back side of a hurricane."

"I spoke about credit card delinquencies yesterday in $2 Trillion Reduction In Credit Card Lines Coming Up. But credit cards and home equity loans (HELOCs) are just two of the impending problems.

Commercial Real Estate is yet another backside of the hurricane. More realistically, it is yet another hurricane that is just hitting shore, and it too will have an eye, followed by a false "all clear", followed by another devastating backblow."

"This is not a simple storm. This is a complex series of storms. The only storm that has landed full force is subprime. The Pay Options ARMs hurricane is about t...