Archive for the ‘crisis’ Category

BBC NEWS | Americas | Tent city highlights US homes crisis

2008/03/19/1139

RTFA: http://news.bbc.co.uk/2/hi/americas/7297093.stm

The meltdown in the US mortgage market has led to record foreclosures and forced thousands from their homes. In few places is it worse than southern California, where the BBC’s Rajesh Mirchandani reports on an extreme consequence of the downturn, but one that some observers fear could grow.

The population of Tent City has grown rapidly in less than a year

Forty miles east of Los Angeles, on a patch of waste ground, is the place they call Tent City.

WTF.

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] Sphere: Related Content

Posted in hooverville, depression, crisis, financial, bush, wtf | 1 Comment »

Quiet Panic « Jon Taplin’s Blog

2008/01/23/1232

RTFA: http://jtaplin.wordpress.com/2008/01/23/quiet-pani…

The tale of a working holiday for both Paulson and Bernanke on MLK Day cannot mask the quiet panic that is going on in Washington. It has been dawning on both men over the last ten days that the credit crisis could be the start of the “Mega-catastrophic risk” Warren Buffett described four years ago. We have pointed you since we started this blog towards the research of Professor Nouriel Roubini of NYU. Here is a bit of a speech he gave this morning in Davos at the World Economic Forum.

What is the measure of value in 2008? Good will? Petroleum? Intellectual Property? Gold? Land? Social Connections? Liberty?

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] Sphere: Related Content

Posted in value, crisis, gold, global, economy | No Comments »