The subprime problem, we were told, would not spread to other markets. It would be "contained." And it has, according to Jim Grant. He quipped last week that it has been contained on planet Earth. The risks coming from rising defaults in the US (now above 600,000 and rising from just 200,000...
John Mauldin's Outside the Box
Filed under: Filed under: Credit Crisis, Housing Crisis, Credit Markets, Subprime, Ben Bernadke, Recession, Interest Rates, Consumer Debt, Counterparty Risk, Jim Grant, Credit Default Swap