if you thought the sub-prime mortgage crisis was bad, wait till you see the alt-a crisis. this video is not professionally produced, but it is very easy to follow:

http://www.youtube.com/watch?v=pmeBS...

there are more alt-a loans than sub-prime loans, the balances are larger, and there are many other characteristics to indicate they will be defaulting in even larger numbers. the government may not care about individual homeowners, but the banks are another matter.

since the fed has made it clear than it will bail out fannie mae, freddie mac and any other large financial institution that gets into trouble, we can expect more and larger bailouts ahead, more credit expansion, and more liquidity sloshing through the financial system.

in the long term the economic environment could hardly be more bullish for gold, silver and mining shares.