Even as many Americans are still struggling to recover from the country's worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators.
Note the language used in the report warning of a "calamitous global collapse." Go back and search my posts tagged with the keywords "economic annihilation" and you'll realize that Establishment analysts are catching on to what the blogosphere has been chirping about for some time. The intrepid bloggers in my link list and beyond are vindicated. At a minimum, the report's finding that bank balance sheets are lies should give investors pause when considering bank stocks as investments.
