Ron, do you view the current environment as more similar to '82, '87, '01 or '29?
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M$3 Answers
The current 'bailouts' have extended the crash to a slow-motion train wreck -- except a lot is hidden by the 'czar's' tunnel. The next time the Smaller 3 come back asking for more money, the economy will be no better off, and they will be too inept to act as quickly as they really need to cut staff, terminate contracts with unions, etc.
Simultaneously, commercial paper will be skidding into the back of the train, all ad-supported industries will be in free-fall, and layoffs will be massive across all industries except government, where the average government worker will simply work fewer hours.
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M$
(I'd say '87: lots of money lost in retirement accounts (although the fraud reasons are not as big a part of it here); gas prices aren't rising like they were in '01; factories closing like '82)
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M$
Thank you for your question.
This seems to be the worst financial crisis. Certainly, the companies that have had to be bailed out such as major banks and the big 3 are of much greater magnitude than anything from 82, 87 or 01.
http://www.techspikes.com/2008/09/the-wall-street-financial-crisis-1929-vs-2008/
The US economy has been in recession since 2007 and the crisis is getting worse. Most world economies are in recession or going into recession. The cost to the US economy is already $5 trillion,
http://en.wikipedia.org/wiki/Economic_crisis_of_2008#Bailout_of_U.S._financial_system
This is more than World War II or any other expenditure by the US Government.
http://clipmarks.com/clipmark/081AAADE-DB1C-4065-9EC3-13FE5D9057B8/
Regards
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