I am amazed it has lasted as long as it has. How many of us would be in crises after a year of unemployment? The US, due to "free trade" has moved its manufacturing elsewhere - lock stock and barrel. Manufacturing is our "job" - our income. We4 keep spending yet have nothing to exchange. Small wonder the dollar is becoming toilet paper. Kirk
Keith Addison <[EMAIL PROTECTED]> wrote: Meet the Economist Who Thinks We're Doomed By Stephen Mihm, The New York Times Posted on August 18, 2008, Printed on August 18, 2008 http://www.alternet.org/story/95375/ On Sept. 7, 2006, Nouriel Roubini, an economics professor at New York University, stood before an audience of economists at the International Monetary Fund and announced that a crisis was brewing. In the coming months and years, he warned, the United States was likely to face a once-in-a-lifetime housing bust, an oil shock, sharply declining consumer confidence and, ultimately, a deep recession. He laid out a bleak sequence of events: homeowners defaulting on mortgages, trillions of dollars of mortgage-backed securities unraveling worldwide and the global financial system shuddering to a halt. These developments, he went on, could cripple or destroy hedge funds, investment banks and other major financial institutions like Fannie Mae and Freddie Mac. -------------- next part -------------- An HTML attachment was scrubbed... URL: /pipermail/attachments/20080818/14a86679/attachment.html _______________________________________________ Biofuel mailing list Biofuel@sustainablelists.org http://sustainablelists.org/mailman/listinfo/sustainablelorgbiofuel Biofuel at Journey to Forever: http://journeytoforever.org/biofuel.html Search the combined Biofuel and Biofuels-biz list archives (70,000 messages): http://www.mail-archive.com/biofuel@sustainablelists.org/
