[Oldexpat]

He’s paid to say that. Past history would indicate we have crossed all the lines to get to a recession.
And it is all George Bush’s fault.

[depressed in 06]

This market correction is to reposition the market to exploit the Bolshecrat policies. The market has decided that the Bolshecrats will take over the government. The economy works on how fast the dollar circulates not on how many there are. The Bolshecrats will take more dollars out of circulation faster and spend it in less productive areas. My advice is buy Ripple not Korbel.

[Old_Mil]

He’s right...we’re not heading for a “recession”, we’re heading for a “depression.”

[NeoCaveman]

I’m much more sanguine than Paulson.

Sure 3 to 6 million people are going to lose their houses, but that just means they’ll squat for a few months then go rent. The net effect could be more disposable income and hence more spending.

[Moonman62]

Paulson told the Wall Street Journal that the turmoil "will extract a penalty on the growth rate" of the U.S. economy, but that "the economy and the markets are strong enough to absorb the losses" without triggering a recession.

Just a week ago he was telling us the subprime mess was contained. Why should we believe him this time?

[montag813]

Paulson, Bernake and Poole. We need the best and brighest and instead we get these twits. God help us all.