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Old 11-24-2004, 05:33 AM
Il_Mostro Il_Mostro is offline
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Join Date: Sep 2003
Location: Sweden
Posts: 72
Default Re: Economic `Armageddon\' predicted

I have no idea. But I do know that past performance is only a really reliable meter of past performance... And as far as I understand some of the "fundamentals" are looking bleak today, things like:
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To finance its current account deficit with the rest of the world, he said, America has to import $2.6 billion in cash. Every working day.
That is an amazing 80 percent of the entire world's net savings.
Sustainable? Hardly.

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[ QUOTE ]
Twenty years ago the total debt of U.S. households was equal to half the size of the economy.
Today the figure is 85 percent.

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From the Boston Globe article.

I've read many articles saying things like this lately, comparing to previous crashes and showing that today things look like they did just before them. Not a proof we will have a meltdown, but at least cause for concern
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