The Invisible Depression

Holy shit, did any of you honestly know this was going on right now? I mean, while over 60 thousand foreclosures is a pretty big number, perhaps it's not cause for a total panic. But I think confidence in the economy would plummet utterly if people actually knew what was going on right now. I found this via John Médaille and it is pretty grim:

Maybe I am just another guy with his head in the sand, I dunno. But I honestly did not know that there were camps of these evicted people cropping up. I think this economy is going to get worse before it gets better, and it's just a matter of time until people realize that. And it's not going to be pretty when they do.

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Written on Wednesday, March 19, 2008