> What happens this time? Unless you're deep in the financial industry you couldn't have possibly known the details of what was coming in 2008 in 2007. Howeve

> What happens this time? Unless you're deep in the financial industry you couldn't have possibly known the details of what was coming in 2008 in 2007. However you easily could tell, if you were paying attention, that something wasn't right in 2007. Plenty of analysts and economists much smarter and more informed than me have been worried about the massive credit bubble we're in and the consequences of that popping. While I agree, it would be far more interesting to know exactly what is going to cause the system to snap, it doesn't mean that observations that something is deeply wrong and we are very likely in for a lot of trouble are invalid "doomerism". Additionally, what's your evidence that this will be less severe than 2008?