A recent book release by Charles R. Morris is putting the finger on a very serious economy that will shake down to what he estimates being $1 Trillion write down.
“Yet $1 trillion is the amount of defaults and writedowns Americans will likely witness before they emerge at the far side of the bursting credit bubble, estimates Charles R. Morris in his shrewd primer, “The Trillion Dollar Meltdown.” That calculation assumes an orderly unwinding, which he doesn’t expect.”
For more reading, go to this Bloomberg review .
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