Wednesday, July 29, 2009

Fareed Zakaria Interviews Roubini, Zuckerman, and Ferguson

I found this interview from CNN really interesting. It is fascinating to listen to some real heavy hitters talk about the economy and what the future holds for us. The scariest comment in the interviews occurred about half-way thorugh when Dr. Ferguson commented that world wide houselhold assets have fallen to 1989 levels, but the associated debt has hardley declined. So we lost 20 years of wealth, but kept all the debt. How can that be counted as a good thing?

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