“The single threat in the credit area right now is commercial mortgages…commercial real estate’s in trouble… I think in terms of taking the loss and recognizing loss has only just begun.”
“You ought to be potentially worried about inflation…the administration is perfectly conscious of the fact that they’ve got a problem…"
...Quotes from the guy that used to be in charge of the Federal Reserve, Paul Volcker. He's now one of President(?) Obama's economic advisers. Some would say he's finally realizing he should have done more to straighten this mess out years ago. Maybe he's beginning to feel the need to atone, because he's now sounding the alarm.
Hope for the best.
Prepare for the worst.