Bad, bad news on wall street today. Nouriel Roubini, an Iranian Jew (now US citizen), and one of the brightest economic minds I am familiar with Is predicting US headed not for recession but depression. Worth noting because he is one of the few who have predicted our economic mess up to this point. A year ago others saying things were fine; he was voice in wilderness saying no they weren't. So, now I am believing the voice in the wilderness. He is Predicting hundreds of banks across US will fail and collapse before this is over, and that home prices will fall 40%. It looks like travel may be a forgotten luxury before long. I suppose I'll still load up a rucksack and just take off walking if I have to. But affording plane travel and rail passes may be a thing of the past.
Life - Ups & Down
But all that glitters is not gold.