Richard Heinberg on the ongoing train wreck

26 01 2008

Heinberg writes:

It’s becoming increasingly clear that 2008 will be a catastrophic year for the US economy, and therefore probably for that of the world as a whole. The reasons boil down to two: continuing and snowballing fallout from the subprime mortgage fiasco (exacerbated by an orgy of debt-leveraging), and record-high, continuously advancing oil prices.

as i comment in the post below, some developers in Maine obviously don’t get it, and 14,000 acres of Maine woods may have to pay the price


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