Ron Insana went out on a limb yesterday when he discussed the credit market crisis on CNBC. He predicted that we would see a Zero Interest Rate Policy (ZIRP) in the U.S., similar to what happened in Japan.
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"I believe the country faces a critical crossroad and that the decisions that are made or not made within the next 10 years or so will have a profound effect on the future of our country, our children and our grandchildren. The problem gets bigger every day, and the tidal wave gets closer every day." - David Walker, comptroller general Aug. 2005