Over at Parapundit there is a doom and gloom post that a new depression is starting. True, the tone is depressing, but I take only solace.
All the people quoted as saying the end is nigh are the from companies that were wrong in their business decisions before the current debacle so what should one expect from that track record.
People quoted:
Merrill Lynch Chairman and CEO
Former Goldman Sachs Chairman
JP Morgan Chase CEO
A survey of economists
A Goldman Sachs economist
There was one discordant note. The chief of Britain's Central Bank saw nothing worse than what happened thirty years ago, whatever that was. Still, as most of the old rosy scenario crowd are now down in the mouth, I'm thinking only happy thoughts.
Unfortunately, I shall be hors de combat in the coming prosperity. As the Polish American Major who was my instructor at intel school used to say, "I have all my money in cash." In my case, change cash to coins jingling in my pocket.
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