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The recent oil price drops

Submitted by Rimu on 11 August 2008 - 9:36am | updated 11 Aug 2008 | Story

The price of oil is dropping significantly at the moment, which may lead some to believe that the emergency is over for now.

"As world oil production has never peaked before, there is no historical basis for making informed judgments as to what is going to happen. » Read more

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I am not 100% sure what these graphs mean but it does not look good

Submitted by Rimu on 5 August 2008 - 1:29pm | updated 06 Aug 2008 | Story

Now. In the chart above, I think it means the banks have been borrowing like crazy from the "big bank that is supposed to save everyone if they run out of money"...

.... and that all banks are about $125 billion overdrawn. » Read more

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Mortgage meltdown

Submitted by Rimu on 14 July 2008 - 5:13pm | updated 21 Jul 2009 | Story

People lose their houses when the special low interest rate they were paying gets reset to the real rate. The scam that's been running in the US lately is that people would would hope to on-sell the houses before the rate reset, and reap the capital gains. It all goes to custard when they can't on-sell (for more than they paid), as is happening now. They're left paying a mortgage that they used to be able to afford, but when the rate resets they cannot. » Read more

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