Where Is The Recession ? Open Your Eyes!

bgp · Aug 4, 2008

READ THIS . and you shall be enlightened.

bgp

http://www.rgemonitor.com/roubini-m...i_yes_thats_2_trillion_of_debt-related_losses

vv111y · Aug 4, 2008

I think that was already posted.

Anyways, Jeremey Grantham Q2 Letter:

The Confessions of an Optimist
I thought things would be bad enough but they turned out
to be a lot worse. I thought a year ago we were looking at
the Ã¢â¬Åfi rst truly global bubbleÃ¢â¬Â in asset prices. The credit
crisis looked to be so predictably powerful and unstoppable
then that I likened the experience to Ã¢â¬Åwatching a slow
motion train wreck,Ã¢â¬Â and I predicted that Ã¢â¬Åone major bank
(broadly defi ned) will fail within 5 years,Ã¢â¬Â for which I got
considerable grief as a doomsayer, as the less optimistic
strategists usually do. Well a year later one bank failure
looks positively quaint as a prediction. Ironically for a
Ã¢â¬Åperma bear,Ã¢â¬Â I underestimated in almost every way how
badly economic and fi nancial fundamentals would turn
out. Events must now be disturbing to everyone, and I for
one am offi cially scared!
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Where Is The Recession ? Open Your Eyes!

bgp

vv111y