Oct 10, 2008

Risk of Severe Global Depression

One does not need to be a Cassandra to suggest that the "world is at severe risk of a global systemic financial meltdown and a severe global depression," but RGE Monitor's site warning of just that is worth giving a read in light of recent financial market developments.

RGE Monitor "delivers ahead-of-the-curve global economic insights that financial professionals need to know. (Their) analysts define the key geostrategic debates and continuously distill the best thinking ... ."

At Counterpunch, Paul Craig Roberts offers an outline of a possible solution to the crisis suggesting: Refinancing the troubled mortgages, carefully re-regulated financial markets, addressing US budget and trade deficits, halting the Bush wars, cutting the extravagant US military budget, among other fiscal and regulatory reversals.

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