Monday, September 26, 2011

"Euro Zone Death Trip"

"Don't go down those stairs..."
"B" horror movie with subtitles?  No. It's Paul Krugman painting a bleak economic picture: "Europe’s situation is really, really scary: with countries that account for a third of the euro area’s economy now under speculative attack, the single currency’s very existence is being threatened — and a euro collapse could inflict vast damage on the world." 

For a short overview of the crisis brewing in the Euro Zone, check out his complete column in today's NYTs.

"Be afraid - very afraid."
Nouriel "Dr. Doom" Roubini - one of the few economists who foresaw the '08 disaster brewing - adds his frightening outlook HERE: "In my view there is a high likelihood that there is going to be another global financial crisis. My data suggests that most advanced economies are already entering a recession. We’re not any more in an anaemic recovery, we’re not any more at stall speed. We’re at the beginning of a contraction..."  

If you're prepared for a real scare regarding a second global economic crisis triggered by the deep problems in Europe, read the entire Roubini interview