While a lengthy presentation, the housing market section is a great overview loaded with graphs, charts and for those of you old enough - similar to how Ross Perot tried to educate the masses about the federal budget circa 1992. It begins on page 9 and many pages are simply 1 chart or another - worth a look through.
He also has a large section of why the unemployment situation is awful; unfortunately he uses government data which we know is
As always click "fullscreen" for an easier read (I believe email readers will need to come to the website)
Hat tip to Marketfolly
Whitney Tilson T2 Partners October09