Saturday, March 1, 2008

bush's poisoned challis: economic doom forecast

Who ever gets into the Whitehouse as the next President will discover a loudly ticking time bomb about to explode on the desk of the Oval Office, with "It's the Economy Stupid" crudely scrawled on it, as if by a child.

Outside in America, the US economy will be spiralling out of control, and up to 20 million homeowners could be well on the way to defaulting on their mortgages. Major financial corporations will be crashing, the dollar will be in free fall, and share values will be evaporating into thin air. And that's just the beginning.

Last week Nouriel Roubini, a respected economist, submitted to Congress a 21 page forecast of unremitting economic doom and disaster (PDF download) for the US economy over the next two years, ending in almost certain catastrophe.

The report reads like the script for a really good horror movie. It should be a warning to us all. Here at the 'safehouse' we are battening down the hatches, and preparing to repel looters.

• but there is always hope: Live Obama Rhode Island speech blog

Above: Hillary Clinton, "It will be over by Feb 5th."

• Barack Obaba photo via mockpapersissors.com

1 comment:

Kevin said...

Thanks for the link, Schmoo!

Regards,

Tengrain