Wednesday, October 22, 2008
Staring into the Abyss?
Boy, the economic forecasts are mixed. Some are really dire, while others are at least hinting at hope. Nouriel Roubini is someone I like to listen to (and read), even though he tends to give more dire predictions. It seems all of the other pundits shut up when he speaks, so that tells me he's respected (which they all admit to) and that they at least marginally agree with the bulk of his views. This one in particular I watched on CNBC today and was a little frightening. Rick Santelli cracks me up. A good mix of people on this show. In any case, it seems that most of the experts are bracing for looming "corporate defaults" which will begin a slip-slide into a deeper recession, driving up unemployment and slowing the credit swap improvements of late. I'm no expert, but it makes sense enough to little old me that it should make sense to you as well.