Financial crisis may make 1929 look like walk in the park.

[tailwind]

Crisis may make 1929 look like walk in the park.
By Ambrose Evans-Pritchard
The Telegraph, London
December 22, 2007

As the credit paralysis stretches through its fifth month, a chorus of economists has begun to warn that the world's central banks are fighting the wrong war, and perhaps risking a policy error of epochal proportions.

York professor Peter Spencer, chief economist for the ITEM Club, says the global authorities have just weeks to get this right, or trigger disaster.

http://www.gata.org/node/5870

[magellan]

1. I watched CNN's In the Money on Sunday

The woman who regularly "advises" on money matters suggested people may have to reach into the equity of their home again to get through what almost all of them agreed would be a brief recession in 2009, IF it happened.

Could not believe my ears.

[GreenTea]

2. We have almost 13 more month's of Bush and it's going to get bad, real bad!