Resources
For those who want further information about the topics covered in this blog, I recommend the following sites. I will add to this as I find additional good sources.
Must Read: Contagion Catastrophe
Excerpt: This is the worst-case scenario from Europe, and it just might come true: Italy defaults on its debts. Every major Italian bank collapses. Recession grips the eurozone. Sovereign defaults and bank failures ripple across the Continent. Saddled with bad loans to nations and lenders in Europe, American banks hemorrhage cash. Credit freezes in the United States. Multinational companies, unable to raise money, curb U.S. investment and hiring. Wall Street demands, but fails to get, new bailouts. The entire developed world plummets into recession and, quite possibly, depression. This, in contrast, is the placid warning that President Obama gave Americans about the threat: “If Europe is contracting,” he said on Monday, “then it’s much more difficult for us to create good jobs here at home.” (This is especially scary when you realize it’s coming from center-left National Journal that seldom gets excited. Either the author spent a lot of time thinking about the implications of current events and really didn’t like what he foresaw or he read Bob’s book, “Collapse.” Ron P. Out of work, hungry American, hunt down, kill and eat anyone connected with Fanny Mae. ~Bob.)
