The author is correct that we are not yet in a comparative situation to the Great Depression. He is correct that the fear-mongering is over the top. However, it does seem like the slippery slope to something much worse is plausible. I see this both ways to some degree.
"Over the last 15 years, through non-stop trading systems research and interviews with great traders, I have assembled the most unique trend following education available. My access to top traders has enabled me to teach trading rules found nowhere else and I pass those lessons along to students. My unique educational courses, which include proprietary trading systems, are designed to do one thing: give you the chance to make the big money."
Michael W. Covel, TurtleTrader® President, Trend Following & Turtle Trading Expert
February 16th, 2009 at 1:36 pm
The comparison of today’s economy to the contractions of 1981-82 and 1929-33 really cannot be made until we can have a better historical perspective. Has the economy hit bottom or have we just entered year two of a multi-year contraction? We may very well be in a depression but we cannot right now make that assessment. I think it’s easy to predict the future but not with any certainty.
February 16th, 2009 at 2:47 pm
I think it’s easy to predict the future but not with any certainty.
I bet Yogi Berra would absolutely agree with you on that!