Discussion of Housing Bubble, US Dollar, Debt, Trade Deficit, Oil, Gold, Consumer Spending, Central Banks, Inflation, Outsourcing and the Bleak Future of the US economy
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Wednesday, August 20, 2008
Bloomberg: U.S. economy probably in recession, U.K. and Europe soon
Unwinding of Leverage will continue to weigh on credit markets for 2 years; Central banks unable to provide relief because of inflation concerns; Credit crisis entering second of three stages