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OpEdNews Op Eds    H2'ed 3/4/10

Double-Dip Recession Directly Ahead

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(The first part of this report is based on email received from economics analyst Monty Agarwal via alerts@e.weissinc.com)

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If history teaches us anything, it's that when even ONE major government defaults on its debts, economic chaos follows. The crisis unfolds in four quick steps:

FIRST, since a sovereign debt default would inevitably cause ALL bonds to crash, investors stampede for the bond market exits, dumping as much as they can as fast as they can.

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SECOND, as the bond market reels, interest rates skyrocket and credit tightens. The rates on 30-year fixed-rate mortgages, auto loans and other long-term debts soar. Rates tied to short-term money markets -- on credit cards and variable mortgages -- follow.

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

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