A friend of mine whose views on the economy I respect pointed me to this article. In it, Satyajit Das, one of the pioneers of financial engineering draws a pretty gloomy picture for the future. He says the credit bubble has just started to unwind and that it is going to be a slow and painful process.

 

Submitted: Nov 7, 2007    Views: 488    Comments: 3    Likes: 11   


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Comments Received:

Eros Mazzillo

He is right that the leveraging has been extreme. The type of unwinding that he is suggesting and the speed of it is very difficult to fathom, but if it is true then nothing will be safe.

Posted: Nov 7, 2007

harleyjohn45
(Unregistered)

gold will be safe

Posted: Nov 13, 2007

Azzurro
Azzurro

Just wait till Americans charge their credit cards in the holiday shop-till-you-drop mania... :o

Posted: Nov 22, 2007



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