Came across this statement in the CIA World Factbook against the entry United States (background section):
"The economy is marked by steady growth, low unemployment and inflation, and rapid advances in technology."

Also, all the way at the bottom of the page it says: "This page was last updated on 19 March 2009".

Something is not quite right, or perhaps its just one of those rare instances where the CIA has its facts wrong. Just saying.

Another interesting video on the US mortgage meltdown from CBS 60 Minutes.

Second wave? What second wave!?

Steaming pile of subprime, Batman! You mean there’s more?

RW having one of his fits of comedic genius in London

Learn and remember this name well - Gerald Celente. Economic forecaster par excellence and CEO of Trends Research Institute, he's been responsible for a truckload of accurate predictions about the world economy in the past. Going by his previous track record, if his latest forecast is any indication, the US is headed for the economic equivalent of the Titanic; and that's just going to be the beginning.

According to Gerald, the economic prosperity witnessed by the US during the 90's was created by the dot com boom and not due to the "prowess' of the Clinton administration. Similarly, what pulled them out of the economic quicksand during the 1930's was World War II. He's confident that Barak Obama can't save the economy; in fact he believes no one can. In order to save the US this time around, they're going to need some kind of an dot-com-equivalent breakthrough in alternative energy sources (not geothermal or wind or solar) but something like Zero Point Energy - something as huge and unimaginable and prosperity-inducing as the US saw during the dot com era (naturally, without the subsequent bust). This basically means the US needs a miracle, which, in all probability isn't coming.

There's a disturbing article and a 4-part radio talk show via YouTube (Part 1 | Part 2 | Part 3 | Part 4) that Gerald did in early November 2008 that reveal even more eye opening facts about the cataclysmic trends facing the US economy for the foreseeable future.