Are you ready for the crash?
Non-delusional economists from across the political spectrum see massive economic troubles straight ahead for the U.S.--the twin budget and trade deficits combined with increasing oil costs leading to a falling dollar, rising interest rates, and depression. I cited former Reaganite Paul Craig Roberts' column yesterday. Also from the sane segment of the right, Stephen Roach writes for Morgan Stanley about how last Wednesday, March 16, with the announcement of a record current account deficit, a new high for oil prices, and a new low for GM stock, may eventually be seen as a tipping point. And from the left, Stirling Newberry writes for Truthout about how the Bushies are running the federal government exactly like Bernie Ebbers ran WorldCom or Ken Lay ran Enron--into the ground.