3 thoughts on “Another Crash Coming?

  1. Hate to say it, but maybe another crash would be a good thing for all us poor and unemployed main street folks in this country who’ve been so fucked over for the last 3 decades or so. A REAL crash would shed light on the bullshit financial “reforms” and so-called “stimulus packages” of the last several years that have run roughshod through the middle class. I say bring it on; shit can’t get much worse, can it?

  2. dandy, your remark makes me think of that joke about the pessimist and the optimist. The pessimist says, “things are horrible, they can’t get any worse!”, and the optimist says, “Oh, yes they can!”

  3. When I clicked the link, the top of the Most Popular articles list was Another Threat to Economy: Boomers Cutting Back, which posits that low overall boomer saving, their losing jobs then earning less IF they get a new one, among other factors, will steeply affect consumer spending for years to come. Which will affect the US economy for years to come…. With ever widening impacts:

    The impact isn’t limited to people on the verge of retiring. Younger people, too, will have to reduce consumption now to save enough money to get by in retirement. That’s one reason Richard Berner, chief U.S. economist at Morgan Stanley in New York, estimates that even after the economy recovers, consumer spending will grow at an annual, inflation-adjusted rate of about 2% to 2.5% in the long term, compared to an average of 3.6% in the ten years leading up to the last recession.

    Now, even the WSJ (or at least one writer) notices that unemployment is a longterm drag on the economy? D”uh.

    Policy makers have more immediate concerns, such as how to create jobs for the nearly 15 million unemployed. The predicament of retirees, though, demonstrates how policy decisions—for example, on whether to stimulate the economy through interest rates or government spending—can have repercussions for many years to come.

    Ya think? Think Obama will notice? Congressional Dems?

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