Hanke Agrees With Me
Check this out, where a prominent economist agrees with me that 2007/08 was a panic more akin to 1907 than to the Great Depression. Again, you heard it here first!
posted by Donny Baseball at 8:45 AM
Wednesday, November 04, 2009
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- Name: Donny Baseball
- Location: State of Mind, New York, United States
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1 Comments:
I agree on 1907. If you also read the commentaries from 1907 to 1910 (The Gibson Market Letters, Quarterly Economic Review), it confirms that just like in 1907, this was an economic panic, not just a speculative panic. The similarities to 1907 and today, as you suggested, are dead on.
If history repeats, 2009 will be very good for the stock market, and 2010 fairly good, then some issues in 2011 etc..
I strongly recommend reading the above commentaries if you have time. Google Books
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