“It looks like the financial sector as a whole will see a big decline in profits, and the only time this happened in the last 100 years — financial firms’ going from making good profits to negative profits — was the Depression in the 1930s,” said Richard Sylla, a professor of financial history at New York University. “I don’t think it will be as bad this time; the Federal Reserve is fighting the problem as hard as it can.”Yeah, they've shown such ontopofitness, sticktuitiveness and cluefulness to date that we needn't worry about a thing. Every little thing is going to be all right.
Arkadyevitchizing America since 2006
By the time you panic, it is way too late -- Lee Raymond, New York Times, July 6, 2008
Every gun that is made, every warship launched, every rocket fired, signifies a theft from those who are hungry and not fed; from those who are cold and not clothed. This world-in-arms is not spending money alone; it is spending the sweat of its laborers, the genius of its scientists, the hopes of its children. Dwight D Eisenhower, 11/16/53
Wednesday, January 16, 2008
Depression Meme launched in the MSM!
Link from Slate:
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