Day August 19, 2008

Large US bank failure likely

So says former IMF chief economist Kenneth Rogoff, adding that the US is halfway through the crisis with the worst yet to come. Financial stocks got clobbered today in the markets. Lehman Brothers in particular is wobbling badly and was…

Dr. Doom says US as sole unipower is no more

Eternal perma-bear economist Nouriel Roubini AKA Dr. Doom says the US is probably in irreversible decline. While he’s usually gloomy, he’s been quite accurate (and early) in predictions about economic matters, especially on the impact of subprime. But do his…