Zuckerman Compares 'Financial Crunch' to Great Depression

Read Article Here: http://www.businessandmedia.org/articles/2008/20080121151451.aspx
Repeated predictions and threats of recession weren't enough for one prominent magazine editor who claimed things are even worse than that by bringing up the Great Depression. According to U.S. News &World Report Editor-in-Chief Mort Zuckerman, the United States faces a credit crunch of epic proportions.

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[amotisi8859]

Has nothing to do with the housing crisis!!

Its always the central bank's fault!!

[DCUPtoejuice]

Zuckerman says this, but dissess Ron Paul usually.

[DwightSimpson]

So what are your qualifcations to make the claim that if the U.S. stopped spending on the Iraq war, it would NOT avoid recession. Obviously, you must be an intellect???

I'll take experience anytime over a pseudo intellectual like Obama who has never even run a corner grocery store.

Time for the good ol' boys from Harvard (so-called intellects) to start packing and go back, smoke their dope and theorize on why rat terds are pointed.

[versafan]

Citing Ron Paul as an intellect is funnier than Letterman. Paul got has talking points from Schiff who did foresee a housing bubble. Paul also maintained that if the US stopped spending on the Iraq war, it would avoid recession. Im sure you believe that, too.

[versafan]

Holy shit, Zuckerman was the ONLY pundit who predicted the severity of the financial crisis well over a year before it happened!

[ourearthhome]

The so-called "housing" bubble is not about improvements called houses; it is about land speculation underneath all "real estate" that has peaked. Check out any study on the cost of building vs. the cost of land. What really happened is that banks loaned money against speculative land value and any simpleton knows that it is bad practice to loan money against a value that can disappear overnight. The Japanese banking crisis was about this very thing and they are still trying to recover. Duh!