Talking with the Trillion Dollar Meltdown author Charles Morris

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2008-10-22 17:42

Frank K
Colorado Springs, CO

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This website doesn't have categories yet for this topic, but having read Charles Morris's book, The Trillion Dollar Meltdown, I found this interview with him on October 8th to be more compelling than all the TV pundits' and candidates' views and solutions to the economic crisis. It's something to think about for those that think we have already hit bottom and are hoping for a quick fix. Here's a quote from the interview:
"I'm not sure that the market shouldn't fall. People seem to think that the market is undervalued now. I don't think so. The market may be falling to the right level -- and it's probably not even there yet."

And he suggest that we're not over the bubble yet..
"Oh no, not at all. We haven't gotten to leveraged loans yet. The junk bond market -- I'll call it the high-yield bond market -- is going to have terrible troubles all through 2009 and 2010. The home mortgage market still has huge swaths of loans out there that are going to get violently repriced in 2009 and 2010. Credit cards are just now starting to get nasty. Default rates are really starting to spike up."

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