Thursday, March 29, 2007

A glimpse of the future

Every day it seems there is more to say about the economy. In a sense that's a good thing, at least we are acknowledging there is a problem. In another sense it’s not a good thing because the problem is BIG and we are a little late getting out of bed to deal with it.

There will be many follow-on effects as things unravel that are difficult to predict but I think that Mish’s article highlights some important points here. Give it a read.

"There has never been a national housing (credit/debt) bubble as big as this one. Indeed, because of the carry trade and loose economic policy everywhere, this is an international fiasco. We are in uncharted territory and the good ship "Credit Bubble" is taking on water fast. It can capsize at any time."

For the full story see: The Disposable Workforce


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