"The Economist Intelligence Unit sees at least a 40% chance of a recession in 2008, with overall GDP growth of not much more than 1%."
"As much as $362 billion in U.S. subprime home mortgages with adjustable interest rates are due to reset at potentially higher rates in the coming year . . . Losses related to bad mortgages already have reached the tens of billions of dollars and have led to turmoil in the world's financial markets."
-- The Wall Street Journal, 12/1/07