It’s the year of living dangerously, but how bad will it get?

From The Times
January 5, 2008

The omens are not good. The credit squeeze could worsen and the housing market crash could push the United States into recession
Gary Duncan, Economics Editor

The West’s big economies have entered 2008 in a state of high anxiety. On both sides of the Atlantic, a dangerous storm front of economic woes has been building since the late summer. Now the fear is that this storm will soon break with ferocity across the developed world, battering national and individual fortunes and confronting industrial countries with their worst downturn since the recessionary squalls at the turn of the decade.

Full report: http://business.timesonline.co.uk/tol/business/economics/article3134515.ece