Happy New Year

One less to go!

2007 has been an exciting year.

- the credit crunch
- housing recession in the USA
- beginning of the downturn in the UK
- Amy Winehouse is still standing or almost.
- The mighty Boosh is back !
- Global Warming is responsible for my loss of hair
- Brown is heading the same way as the housing market
- Killy is back !
- End of the subprime market

But still no
- Extra-Terrestrial
- End of capitalism
- End to stupidity
- End of Marxism - believe some people still are found of this crap ...

2008 promises to be a really good one too.
What to expect :
- Housing recession in the UK
- Recession in the USA
- Amy going to rehab ?
- France non smoking ?
- a bunch of unfulfilled prediction
- A lot of people asking for more regulation and state intervention

What not to expect :
- Extra-Terrestrial
- End of capitalism
- End to stupidity
- End of Marxism - shit ...-

And Good Luck to those who buy a house in 2007...

To follow the financial/housing/real world crisis

Nouriel Roubini is maybe the only credible loud voice that was right about the downturn in the USA. All the specialist did underestimate the risk in the USA, it is likely that they are also largely underestimate in the UK, get ready for at least going back to 2001 price in real term - not this year, in the next 5 years quite likely- ...