Atlantis Alumni

Monday, August 18, 2008

The End Of The American Empire?

“This might be the beginning of the end of the American empire,” Economist Nouriel Roubini quoted in an article in the New York Times magazine. Roubini predicted the bust of the housing bubble and the recent failure of a major financial house, which turned out to be Bear-Sterns. He now thinks that our entire financial system is in jeopardy and will have to be bailed out at a cost of trillions. He believes we are in a recession that will be the worst since the great depression. Is he right? We'll know soon.

PHOTO: Nikko in the kitchen

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