Saturday, September 27, 2008
You say depression: I say a fundamentally sound economy
"History shows that whenever there is a banking crisis, an economic slump, with all that entails - mass redundancies, falling house prices, widespread bankruptcies - invariably follows. The scale of the recession depends on the size of the banking crisis; the past year has brought the biggest systemic financial collapse since the 1930s." But...but...but... interest rates are much lower than last time!