Capitol Hill Blue Forums Political Issues Finance, the economy & Economics How will the financial crisis develop?

This crisis is hardly over.

Listen to economist Nouriel Roubini who has been on target in most of his forecasts.

He predicts, according to financial writer Felix Salmon, "Credit losses of $2 trillion, half the US banking system nationalized, municipal defaults, house price declines accelerating, a sudden stop in consumer spending, global contagion, stagflation, you name it."

Roubini concludes: "At this point the perfect financial storm of the century cannot be contained. The only light at the end of the tunnel is the one of the coming financial and economic train wreck."