Richard Heinberg's August newsletter makes very interesting reading,

'But why are both the U.S. economy and the larger global economy ailing? Among the mainstream media, world leaders, and America’s economists-in-chief (Treasury Secretary Geithner and Federal Reserve Chairman Bernanke) there is near-unanimity of opinion: these recent troubles are primarily due to a combination of bad real estate loans and poor regulation of financial derivatives...

...But what if this diagnosis is fundamentally flawed?'

See the full article: http://heinberg.wordpress.com/

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