A trip down memory lane...

While clearing my closets at work I stumbled on a January 2007 issue of The Economist and got around to browsing through it. Some fun quotes below:

The [American] housing market downswing may not yet be over...

And:

The creation of new instruments, such as complicated derivatives, probably makes that financial system stronger in the long run ... But some of these instruments have yet to be tested by a sever revession or a big corporate default. ... there could be an almighty scrampble for the exits when the trend changes