In August 2007, I attended a talk at the Greenbelt Festival, in Cheltenham (UK) by Ann Pettifor titled “The coming first-world debt crisis.” Over a year before the bottom fell out, Ms. Pettifor predicted the chaos-to-come. I recall that she insisted that victims of predatory-lending should not be evicted from their homes. Her presentation was incredibly prescient evoke considerable debate during Q&A.
There’s plenty of commentary and blogging about the growing financial crisis going on, and I’m no economist, but a friend recently drew my attention to an excellent audio primer offered up by This American Life, and I would like to recommend it. If that episode is any account, then the new Planet Money blog by some of the same commentators should also be helpful.