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Thread: The worst is still to come?
Aug 19th, 2008 3:44 AM #1
The worst is still to come?
"The worst of the global financial crisis is yet to come and a large U.S. bank will fail in the next few months as the world's biggest economy hits further troubles, former IMF chief economist Kenneth Rogoff said on Tuesday."
"We're not just going to see mid-sized banks go under in the next few months, we're going to see a whopper, we're going to see a big one, one of the big investment banks or big banks, said Rogoff, who is an economics professor at Harvard University and was the International Monetary Fund's chief economist from 2001 to 2004."
Sounds like something potent for crunch time in the election. This, along with Iraq, looks to be the main focus this fall. Odd thing though, neither candidate strikes me as the "I know what to do to fix the economy" type."Beneath this mask is more than a face. Beneath this mask is an idea, and ideas are bulletproof."
"If we don't believe in freedom of expression for
people we despise, we don't believe in it at all."
-- Noam Chomsky
Aug 19th, 2008 8:31 AM #2
As i see it we have 4 main things that may lead to economic meltdown
Peak Oil (If true)
But things are so bad that the economy does not need any of the above it's crashing on it's own.
Argentina is a good example of whats coming and you can see a vid about it here
it's not all gloom ! watch number 12 and you will see they managed to kick all the parasites out and are rebuilding the economy.Ariel Sharon: "We control America"
"Every time we do something you tell me America will do this and will do that . . . I want to tell you something very clear: Don't worry about American pressure on Israel. We, the Jewish people, control America, and the Americans know it."
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