Heart Failure
September 15, 2008
– Comments (5)
Roubini:
This is indeed the most severe financial crisis since the Great Depression and occurring at a time when the US is falling in a now severe consumer led recession. The vicious interaction between a systemic financial and banking crisis and a severe economic contraction will get much worse before there is any bottom to it. We are only in the third inning of a nine innings economic and financial crisis. And the only light at the end of the tunnel is the one of the incoming train wreck.
I know people are not standing in line waiting for food or selling apples for a nickel.......yet.
Let's get one point clear....after this weekend it is becoming more and more obvious to the skeptics that this is the worst financial crisis since The Great Depression.....AND we are still in the early stages.
For those of you still seeing things still rosey......money is the blood of the economy and financial institutions is the heart that pumps the blood throughout the economy. Think of other industries as other parts of the body...some more significant than others.
Sure your liver can presently filter fine, your lungs clear, and you GI tract sending stuff through like a well oiled machine....but if your heart fails....eventually the entire body will know and everything fails.
The question now is that pain in the left side of the chest simply muscluar stress.....or is that tingling down the left side of the arm symptomatic of something else???
So next time someone tells you its just a financial crisis....you may want to respond I guess its just a heart attack as well.
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