Calling the economic crisis
Mish has a great post on an economist that called the economic crisis correctly, as he looked at debt. The information in the post is good.
I have no written a blog for over a month and here's what prompted me to write this one:
"What we are going through is a deleveraging crisis and we haven't experienced one of those since 1930. Last time it took 10 years and a world war to get rid of it, and this time we are staring up with 1.7 times the level of debt in America, not even mentioning the derivatives catastrophe that is also there."
Here's an economist that is pointing out the same thing that has lead to me saying that things are worse then the depression.
I mentioned the easier lending laws in my post and Keen mentions the derivatives. I have expressed consistent concerns about the derivates in other posts.
Something else to add to the Dr Gloom and Doom box is the aging population.