Markets in turmoil: Positivist or Pessimist
For me, as a person with an more than average interest in economics and investing, these are exciting times. World food crisis, World energy crisis, Credit Crunch, The Second Great Depression, The end of the financial system, The End of the Dollar, etc. The media shower us with 'bad' news.
Are you a pessimist like me? Personally I believe that America will hit a very large and very deep recession that has actually been made even worse by current US politics. Is this the end of the World? No, not at all. The US, and the rest of the (western) world, will simply have some very lean years. Every day I am amazed at how easy it is for stock brokers and top-level financial people to ignore that enormous load of bad news that is raining down on them. I admire their positivism. However, I do not admire those greedy bastards who got us (and the US) in this mess. I do not admire the Bush administration for making it even worse (and for letting it happen). And most of all, I do not admire the fact that all those greedy (mis)managers are getting away with this: golden parachuting themselves into retirement. In the meantime, let us wait and see how American consumers get their quadruple whammy thumping at them. The party is over, people! Excellent analysis of the current state of the US economy: American Economy - The Long Hangover. Image comes from this article as well.