Most take for granted what they hear from the media and what is regurgitated from their friends and peers. It's very rare that data is presented and examined in the media. Usually it's broad statements that are usually explaining why events happened in the past. Politics are the same way. I still remember Ross Perot holding up his chart of the U.S. debt and speaking of that "sucking sound"! It was refreshing to see a politician present some real data and discuss a solution.
Casey Research presents the chart below. It confirms that we are in a "default lull" of the adjustable rate mortgages (ARM's). April 2010 will kick off the next round of chaos. June 2011 could be the peak. Buckle your chinstraps!
Source: Casey Research