Be Prepared for the Worst

**Jason** · 11-02-2009, 07:42 PM

Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to 4%. Many of these are the same people who insisted that the economy would continue growing last year, even while it was clear that we were already in the beginning stages of a recession.

A false recovery is under way. I am reminded of the outlook in 1930, when the experts were certain that the worst of the Depression was over and that recovery was just around the corner. The economy and stock market seemed to be recovering, and there was optimism that the recession, like many of those before it, would be over in a year or less. Instead, the interventionist policies of Hoover and Roosevelt caused the Depression to worsen, and the Dow Jones industrial average did not recover to 1929 levels until 1954. I fear that our stimulus and bailout programs have already done too much to prevent the economy from recovering in a natural manner and will result in yet another asset bubble.

http://www.forbes.com/forbes/2009/11...n-my-mind.html

HumanoidComplex · 11-03-2009, 06:00 AM

of course. There are also other exciting things on the horizon: dollar dies before or around 2012, we'll need another 'world war'(probably will start in and around Iran) to bring us out of this depression when it inevitably hits.

KEWL!1!

11-02-2009, 07:42 PM	#1 (permalink)
Jason Faugh a ballagh Join Date: Dec 2001 Location: Pasco, FL Posts: 8,476 OS: Windows Vista My System Blog Entries: 2	Be Prepared for the Worst Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to 4%. Many of these are the same people who insisted that the economy would continue growing last year, even while it was clear that we were already in the beginning stages of a recession. A false recovery is under way. I am reminded of the outlook in 1930, when the experts were certain that the worst of the Depression was over and that recovery was just around the corner. The economy and stock market seemed to be recovering, and there was optimism that the recession, like many of those before it, would be over in a year or less. Instead, the interventionist policies of Hoover and Roosevelt caused the Depression to worsen, and the Dow Jones industrial average did not recover to 1929 levels until 1954. I fear that our stimulus and bailout programs have already done too much to prevent the economy from recovering in a natural manner and will result in yet another asset bubble. http://www.forbes.com/forbes/2009/11...n-my-mind.html __________________ Posting Tips \| Advice for New People \| Common Fixes \| Agus na damnaithe fágtha gan focal Glaoigh ormsa i measc na naomh

11-03-2009, 06:00 AM	#2 (permalink)
HumanoidComplex Registered User Join Date: Aug 2008 Posts: 101 OS: xp	Re: Be Prepared for the Worst of course. There are also other exciting things on the horizon: dollar dies before or around 2012, we'll need another 'world war'(probably will start in and around Iran) to bring us out of this depression when it inevitably hits. KEWL!1!