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Now if only our government would get a clue.
I've been reading Nouriel Roubini for a year or more and he's been talking about the "systemic meltdown" at least that long. Other economists used to call him Doctor Doom. Now they just call him to find out what's next.
He was wrong on one call though: he thought it would take another 6 - 12 months for the big 5 investment banks to disappear.
So the fact that he was wrong on the optimistic side about something is not altogether reassuring.
And now, once more because I just can't resist:
GOOD THING WE'RE NOT IN A RECESSION!
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2 comments:
> GOOD THING WE'RE NOT IN A RECESSION!
Haven't seen the numbers yet. Probably still aren't, though we're clearly headed that way.
There ARE other issues possible, in case you did not note in your zeal to do a happy dance over the (still incorrect) notion that we are in a RECESSION, which is not one-to-one the same thing as a systemic issue like the one we are in.
A recession is a measure of business-as-usual being on the "poorer side of usual".
I dunno about the place you're living in, bob, but this current situation?
"Decidedly Not Usual"
:-/
But keep enjoying your happy dance, by all means... no matter how inaccurate it STILL is.
Nice to know we can always count on you, OBH.
We're in the middle of the most amazing global meltdown since the Great Depression, but you're still a recession denialist.
Fine. Metaphor: Nobody is shooting at us - they're just dropping atom bombs. All is well - pay no attention to the mushroom cloud behind the curtain!
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