Essential Quotes

I have sworn on the altar of God eternal hostility against every form of tyranny over the mind of man.
Thomas Jefferson

Monday, August 20, 2007

How Far Will the Crash Go and What Do we Do Now?

The immediate triggers are being described quite well: the collapse of the U.S. subprime mortgage market; the vulnerability of the rest of the economy to the subprime undertow, due to the “efficiency” of the markets in spreading risk; the worldwide overextension of cheap credit; the failure of large institutional investors and Wall Street brokerages to behave responsibly; and the long-term effects of the U.S. trade and fiscal deficits which are now coming home to roost.

Check it out:

http://www.globalresearch.ca/index.php?context=va&aid=6575

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