"A Generalized Meltdown of Financial Institutions"

Take a Look at Professor Roubini's Crystal Ball
By Mike Whitney

Reality has finally caught up to the stock market. The American consumer is underwater, the banks are buried in dept, and the housing market is in terminal distress. The Dow is now below its 200-Day Moving Average -- the first big "sell" signal. Anything below 12,500 could trigger program-trading and crash the market. The increased volatility suggests that we are watching a "real time" meltdown. Continue

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Forecast: U.S. Dollar Could Plunge 90 pct

By UPI

"We are going to see economic times the likes of which no living person has seen," Trends Research Institute Director Gerald Celente said, forecasting a "Panic of 2008." Continue

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Banks Gone Wild

By Paul Krugman

“What were they smoking?” asks the cover of the current issue of Fortune magazine. Underneath the headline are photos of recently deposed Wall Street titans, captioned with the staggering sums they managed to lose. Continue