The House Is Clearly Burning

Whereas this guy gets lots of credit for having predicted the fallout we are now facing - I am hesitant to buy into his more extreme predictions regarding the death of... Actually I agree with him, I just think there are too may entrenched interests for his prescriptions to fully manifest. Regardless - the ride is getting wilder.

Laissez-Faire Capitalism Has Failed - Forbes.com: "The latest data on third-quarter 2008 gross domestic product growth (at an annual rate) around the world are even worse than the first estimate for the U.S. (-3.8%). The figures were -6.0% for the euro zone, -8% for Germany, -12% for Japan, -16% for Singapore and -20% for Korea. The global economy is now literally in free fall as the contraction of consumption, capital spending, residential investment, production, employment, exports and imports is accelerating rather than decelerating."