gmiller

Despite Big Fast Panic, It's Still a Normal Bear

Larry H. called it correctly.

Despite Big Fast Panic, It's Still a Normal Bear

Disagree. This bear will be the most ferocious one of most of our lifetimes. We have never before had such an enormous debt overhang and wildly deflating asset bubbles. The mortage resets, defaults (already at 9%), oncoming trainwreck of commercial real estate, car loans, student loans and credit card defaults will be a financial tsunami, made worst by the resultant tax revenue implosion. Dude, brace yourself, it;s just beginning.

While we have better coping mechaisms than duing the 1930's, the scale of the problems is much larger.

The consequences may be catastrophic. I'm not sure what can be done to prevent it, only to pace and moderate it a bit.