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Posts Tagged ‘meltdown’

In the scare-of-the-week news story we learn that Bed, Bath & Beyond may have distributed radioactive tissue holders across the country.

It allegedly started when just four metal tissue box covers buried in a transport truck set off radiation detectors installed after 911 to protect us from a terrorist threat. Who knew truck-stop Geiger counters would also serve to protect us, apparently, from made-in India? But are mass exporters like China and India really to blame for these all-too-common consumer product scares?

Perhaps not.

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The Man Who Foretold Our Economic Fate

Giving credit where credibility is due.

Charlie Rose:

How do you see the economy today? The world economy? Where are we?

Answer:

I think the financial system is extremely fragile. I think that you can see it in the volatility of currencies; you can see all sorts of weaknesses. I believe that there is an incredible amount of danger in things like the derivatives. I think that we are moving toward the outer limits of acceptable risk taking. … I think our financial system is dangerous and could create great problems for the real economy. …

Sir James Michael Goldsmith, billionaire financier, 1994; February 26, 1933 – July 18, 1997

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