Wednesday, March 12, 2008
Merrill Lynch: it’s back to the future for the US economy
"Merrill Lynch economist David Rosenberg, one of the most bearish Wall Street economists, says to look past the 1990-91 recession as a guide to the current downturn. The key difference: the depth of home-price declines." I wouldn't be surprised if the recession is even worse than the 1970s personally but this article brings home the reality that it's not just a 1990 situation.