"The article pasted below appears at first reading to be somewhat alarmist, but having read a few other articles on the subject I begin to wonder if there is not some degree of reality to the case presented. Clearly, if the situation plays out even remotely close to how the writer envisages, it will create chaos in financial markets. The consequences are frightening - but can obviously also provide opportunities that can be exploited.

"Could this be the subject of the next Fullermoney Theme???"

Eoin Treacy's view Thanks for this article and email on what has once again become a topical subject.


So many press articles are alarmist, as readers may have noticed. It is an attempt in gain attention in an era of information overload. This article is no exception but the subject is also very serious for the USA.

Eoin addressed the mortgage issue on Monday, where he quoted the four key paragraphs from John Mauldin's excellent article.


I will just add that in terms of legalities, this is an issue of governance. I assume that the USA's Supreme Court will be involved - hopefully, sooner rather than later. Common sense and vision will be required.

Also, I do not regard this as a subject likely to have any lasting effect on Fullermoney themes, although a chaotic resolution of the USA's mortgage fiasco would presumably further delay economic recovery. Historical evidence from many countries and regions shows that it takes from five to seven years, on average, to recover fully from a credit crisis recession, as I have mentioned before. The USA is entering its third year in this process.