GSE Woes and More Fed Easing Ahead by Frank Barbera

In one of the best articles of its kind Barbera explains how rising unemployment figures reveal how the US and the West are already in recession and how they are probably well on their way to a major depression. He goes on to reveal the differences between CDOs and CDS and their relationship with clarity and insight and he demonstrates how when significant CDOs go belly up the results will cause a systemic catastrophy for the US financial system and its main representative, the Dollar. In short, it's a enlightening read.

http://www.financialsense.com/Market/barbera/2008/0819.html