Tuesday, August 29, 2006

Plain language

As noted below, the fact the housing market is coming off the tracks is now conventional wisdom. But no one in the American media will state it as bluntly as Britain's Guardian:

The downturn in the US housing market will force businesses to slash 73,000 jobs a month in the new year and could be more damaging to the world economy than the dotcom crash, economists have warned.

And no, the article does not quote Nouriel Roubini.


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