Ursa Rising 0
Doug Noland at the Asia Times explains why he is bearish on the world economy.
There is a lot of financial industry lingo in the article, but plowing through it worth while. The bulk of it is in the first page and a half. The remainder is daily news summaries and citations. As I interpret it, his thesis is that, by sanctioning the creation and growth of instruments such as CDOs, governments, especially the U. S. government and the Fed under Alan Greenspan, encouraged a business model based on selling bags of air.
And that the detrimental results are not over yet.
A sample:
