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March 10, 2008



The only solution, as Nouriel Roubini pointed out earlier this week (before Carlyse Capital and Bear Sterns) is for the US Government to take over or essentially nationalize all of the bad debt in the economy (subprime mortgages, commericial paper, auto loans, students loans etc) and perhaps a couple of investment houses too. I know this is the antithesis of free market capitalism....but free market capitalism has created one gigantic mess. Do I hear a flushing toilet????

man with all the answers

It is getting very serious out there...but will get worse

the property bubble pops the same time as teh credit bubble oh dear...i think you will find things will slowly crumble.

have a look at this vid for more. http://www.youtube.com/watch?v=8Ze0qjjGA-8

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  • Chronicles of international finance and geopolitics, with hints from thither and yon to help us find a way from "growth and development" to "sustainability."

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