Monday, October 18, 2010

The Great Depression Lasted A Long Time

Obviously what we're dealing with right now isn't nearly as severe, but there really isn't any reason to expect that the great animal spirits will turn things around. On the fiscal side I don't think we can expect to see anything other than maybe bandaids, and I'm not optimistic that enough will be done on the monetary side either. Don't think Helicopter Ben will earn his nickname.