154. Following my theme..
July 9, 2009 § Leave a comment
Why does he say it will eventually end? I believe it, 90%, but i don’t see the evidence. But the outcome he graphs for us… It will be accompanied by a rise of income for the rich back to hwere it was pre-recession, but the rst of us will be at a lower level. And I think this is not usstanable.
True, things are pretty ugly right now. … Yet, ugly or not, the downturn will eventually end. Yes, there is still a real risk of hitting an iceberg, beginning perhaps with a default in the Baltics, with panic first spreading to Austria and some Nordic countries. But, for now, a complete meltdown seems distinctly less likely than gradual stabilization followed by a tepid recovery, with soaring debt levels and lingering high unemployment.
via Economist’s View.