Thursday, September 25, 2008


This link is an article about 5 steps (modeled on the "DEFCON" system used by U.S. strategic command) from situation-normal to Great Depression-style economic meltdown.

The steps and descriptions come courtesy of Nouriel Roubini, a professor of economics. The interesting thing about this article is that it was originally published in february, and at the time of writing we were at Defconomy 5. Now we're somewhere around 3 or 2, and it's played out almost exactly as described.

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