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Change for US
2 points by eande on April 5, 2010 | hide | past | favorite | 1 comment
Around 2004 to 2007 there were more and more signs which indicated the upcoming housing crises. But with all the information floating around it was not all that clear how it will turn out, now we know much better.

I see the same kind of news and discussion increasingly happening on which way the US will move. Latest news say job market is getting better at the same time more articles start to say America will go bankrupt. Well, the country itself does not go bankrupt, but if the government can not fulfill the payment obligations there will be consequences.

One direct risk is when foreign investors start to significantly draw down the investments into the US. What will be the ramifications in the next years to come if US does financially go under?

This is supposed to be the definitive book on the subject: This Time is Different: Eight Centuries of Financial Folly (http://www.amazon.com/This-Time-Different-Centuries-Financia...).

Barons: "A tour de force of quantitative analysis covering financial crises affecting 66 countries over the past 800 years, the book identifies pre-crisis patterns that recur with eerie consistency."

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