Warning of Global Financial Crisis

It seems that I'm not the only voice warning about the coming financial crisis (pointed out by various commenter at CR):

1. BIS renews slump fears as global economy pays the price. June 30, 2008
   

   A year ago, the Bank for International Settlements startled the financial world by warning that we might soon face challenges last seen during the onset of the Great Depression. This has proved frighteningly accurate.

2. Fortis warns of American meltdown. June 29, 2008
   
3. Barclays warns of a financial storm as Federal Reserve's credibility crumbles. June 28, 2008
   
4. RBS Sounds Alarm On Markets. June 18, 2008
   

And there are opinions on the response, like "What we can do in this dangerous moment" by Lawrence Summers and CR's commentary to Summers' options.

If you ask me, it's better to let things fall and then pick up the pieces rather than "try to do something" and end up prolonging the pain and the aftereffects.

Copyright 2008, DannyHSDad, All Rights Reserved.