6th
Beginning of a slowdown?
Swaminathan S Anklesaria Aiyar, in his weekly The Times of India column, on a very probable financial crisis in the making:
“Ten years ago, the Asian financial crisis sma-shed markets and economies globally. Today, another financial crisis is brewing in the US mortgage market. Is this a small problem that will soon be resolved? Is it a serious problem that will hit financial markets but not sink entire economies? Or is it a disaster that will smash the world economy?
I estimate there is a 33% chance of each scenario — small problem, serious problem, disaster. Which means there is a two-thirds chance of a serious to disastrous downswing.
History repeats itself. An economic boom for several years creates the illusion that business risks have been lowered permanently,…”
More here: http://timesofindia.indiatimes.com/Opinion/Columnists/Swaminathan_A_Aiyar/Swaminomics/Financial_hurricane_from_the_US/articleshow/2256257.cms