Subject: [Homestead] Roubini: global systemic financial meltdown and severe global depression risk
Date: Thu, 9 Oct 2008 21:46:18 -0700 (PDT)
Nouriel Roubini is sometimes quoted by Don and others on the list. Though
generally a pessimist or realist, he is considered to be brilliant. This
article, just out, is ominous in its forecast ............bobford
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Nouriel Roubini's Global EconoMonitor
The world is at severe risk of a global systemic financial meltdown and a
severe global depression
Delicious Digg Facebook reddit Technorati Nouriel Roubini | Oct 9, 2008
The US and advanced economies’ financial system is now headed towards a
near-term systemic financial meltdown as day after day stock markets are in
free fall, money markets have shut down while their spreads are skyrocketing,
and credit spreads are surging through the roof. There is now the beginning
of a generalized run on the banking system of these economies; a collapse of
the shadow banking system, ....................