I Don’t Know Anything About Finance . . .
But I’m pretty sure this guy’s right:
I’m an attorney and CPA and I’ve spent my career in the world of investment banking, hedge funds, and private equity, etc. Tell your mother I’m almost certain a depression is on the way and many of my colleagues believe the same thing because the math has finally caught up with us. However, I believe this depression will be worse than the 30’s because, among other factors, Americans are no longer self-sufficient and we’re burdened with debt we can never repay. I don’t want to believe any of this, but I can’t ignore what I know and see. I really hope I’m wrong. I hope those in charge figure out a way to kick the can down the road one more time, but I don’t expect that because they would have to defy their Keynesian impulses. I fear it’s too late.
flyfisher on June 3, 2009 at 10:36 PM
A comment left at a Hot Air post yesterday on a proposed tax on employee health insurance benefits. It was prompted by this comment, a few minutes earlier: