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Bailout Blues

bankerThe stock market is making everybody nervous these days, and what's most unsettling for me is the multi level explanations that are being offered up on the radio and web.  I wished I had paid more attention in Mrs Lane's Economics class back in high school. I'm sure I'm not the only one who is a bit fuzzy on all the details of last week's stock market crash.

Not too many people out there are using the "crash" word to describe last week's events, butroubini Nouriel Roubini is. He points out that the combined equity loss of last week equals the equity loss of the two day 1929 crash. He is also well known for predicting our current collapse within financial circles...but he was off by two years. He was predicting this to happen back in 2006, and when it didn't his credibility suffered, but now everyone is paying attention to what he has to say. I like his views on using some of the bailout money for infrastructure building in an effort to create jobs, and his new blog is my new first stop when I want to get up to date information on the economy that's not sugar coated.


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