We're not sure what this means but we're sure it means something when Sarah Lewitinn, the famous hipster DJ and music taste-maker who is also known as Ultragrrrl, starts worrying about subprime effects on the broader financial markets.
So while trying to find articles to explain to a friend of mine exactly what's about to happen in our economy and how a ton of people are going to end up without jobs in wallstreet and then eventually all over america resulting in a crazy recession and an impending economic turmoil, i found this article that I literally thought was from The Onion…
Her comments are echoed today by Bloomberg's Bob Ivry. "Federal Reserve Chairman Ben S. Bernanke was wrong. So were U.S. Treasury Secretary Henry Paulson and Merrill Lynch & Co. Chief Executive Officer Stanley O'Neal" he writes. "The subprime mortgage industry's problems were contained, they all said. It turns out that the turmoil was contagious."
Beep Beep Beep Beep [Ultragrrrl]
Update: We've swapped out the picture of Ultragrrrl to preserve our "reading on the monitor at work" friendly status. The original picture was too hot for even this market. (Or, maybe, especially this market since the boss may be looking for fire someone, anyone today.) Original picture after the jump.