Pan Cogito Ponders Govt. Collapse [In Iceland] And Nationalization [Of U.S. Banking, Temporary; If Not The Washington National Opera, Permanently]
Pan Cogito respectfully disagrees with the following forecast:
"Iceland's economy is expected to shrink by 9.6 percent this year. Iceland is the world's first government to collapse as a result of the crisis, but seems unlikely to be the last."
[Some economists -- excluding Cogito -- believe that the U.S. economy will contract by 5 per cent in the fourth quarter of last year; and 5 per cent the first quarter of this year.]
David Sanger "Nationalization [of Banking] Gets A New, Serious Look" New York Times January 26, 2009
Header (Riga, Latvia, European Union] photo credit: (c) Roman Koksarov/Associated Press. 2009. Copyright controlled.