As we await the the gods on Mount Federal Reservus to let the humans know their fate, we have an excellent presentation by Whitney Tilson of T2 Partners - embedded within his monthly investor letter. While others have done a better job of self promotion, Tilson actually made many prescient calls on the housing market the past 24 months (much like a certain blogger) - essentially he believes we are in the eye of the storm.

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 .... lacking truthines (sic).  [Oct 2, 2009: True September Unemployment in America Reaches 14%]    But the conclusions are similar to ours. 

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