by Jack Lee
I was surfing the web, looking for financial good news for a change. Not a lot out there I hate to say, but I did find something worth reading. It’s by a couple Standford economists and they are saying the recession will be over sooner than we think. I think it won’t be over until mid to late 2010, they are thinking mid 2009. If they’re right it will come as a big relief to a lot of readers. This site comes with a lot of nifty charts to back up what they are saying.
Click on the link to see an upbeat story on the market.
Here’s a hint at what they are saying…”Good news: Great Depression II avoided and growth resumes mid-2009
Much like today, the Great Depression began with a stock-market crash and a melt-down of the financial system. Banks withdrew credit lines and the inter bank lending market froze-up. What turned this from a financial crisis into an economic disaster, however, was the compounding effect of terrible policy. The infamous Smoot-Hawley Tariff Act of 1930 was introduced by desperate US policymakers as a way of blocking imports to protect domestic jobs. Instead of helping workers, this worsened the situation by freezing world trade.”