Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Quote of the Day

“People are comparing this recession to previous deep recessions we had in the seventies and eighties. The problem is that you had a larger manufacturing sector then than you have now. The process of deindustrialization has been going on since WWII. With each recession we lost a tremendous number of jobs, which don’t come back,” said my former Morgan Stanley colleague, David Gerstenhaber, President of Argonaut Capital Management. David, you learned well!