Rabid Liberal Rants

Economy guru and professor at NYU, Nouriel Roubini gave a presentation in London, and basically said the worst is yet to come. Roubini, back in 2006, accurately predicted that the US will fall into a recession. Back in February, he predicted the financial market meltdown. Some quotes from the conference:

We’ve reached a situation of sheer panic

hundreds of hedge funds are going to go bust

We’re seeing the beginning of a run on a big chunk of the hedge funds

don’t be surprised if policy makers need to close down markets for a week or two in coming days

This is the worst financial crisis in the U.S., Europe and now emerging markets that we’ve seen in a long time

Things will get much worse before they get better. I fear the worst is ahead of us.

Read more from the RGE Monitor.

Paul Krugman opines on the ugly turn occurring in the McCain/Palin rallies:

The crisis isn’t the only scary thing going on. Something very ugly is taking shape on the political scene: as McCain’s chances fade, the crowds at his rallies are, by all accounts, increasingly gripped by insane rage. It’s not just a mob phenomenon — it’s visible in the right-wing media, and to some extent in the speeches of McCain and Palin.

And from HuffPost:

McCain is appealing to the worst of people’s fears and prejudices in order to advance himself electorally.