The research for this presentation was the most difficult in  the past 8 years of giving this 3 hour lecture.  There are some bright lights at the end of the Credit Crisis tunnel but still some real challenges such as consumer spending, deleveraging and housing foreclosures. 

Topics
1. Banks, Reserves and the Economy 2. Interest Rates  3. Energy Impact: Perhaps the Most Important Factor today 4. Jobs: The Four Letter Word 5. BRICS and Emerging World Growth  6. China: To Be Or Not to Be 7. Critical Economic Players: Consumers and Industry •    8. Currencies: The Race to the Bottom •    9. U.S. Housing 10. Deficits, Debt, Deleveraging, and Moral Hazard 11. Commodities and Their Message 12. Impact on Quality of Life in the West and Emerging Markets 13. Europe on the Verge 14. The Entitlement Conundrum