Jeff Matthews, whose writing I love (and respect in the morning) says the worst is over (in the US), and proceeds to predict that the next bubble (and the worst of all) is going to happen in China. I sort of had a feeling things were going to get better when Robert Scoble twittered Sunday night: “I predict markets will continue downward.”
As they say, once the most positive people give up on the market, you’re at the bottom.
2 responses so far ↓
1 steve // Mar 19, 2008 at 8:01 am
I wish it was true but alas I think this crisis will not bottom out for years. I think the Japanese banking and property crisis that lasted most of the 90′s is the last best similar crisis and it was minute compared to this enourmous swindle.
One difference will be inflation – it never happened during the Japanese property. I suspect that’s because that crisis was so much smaller than this fiasco.
The banks and financial barons will push for more and more liquidity until inflation wipes out a good portion of banking debt.
Unfortunately, that could screw the average earner but there is nothing new in that.
Steve
2 steve // Mar 19, 2008 at 8:13 am
Oops – invariably my post included a few writing errors. forgive me my haste ;>)
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