Wednesday, October 15, 2008

The next steps

As credit markets slowly thaw the economy is contracting. Markets are correcting all over the world. Roubini says it'll be the worst recession in 40 years. 18-24 months of contraction. 8-9% unemployment rate. Bad times.

This is leading many to call for a fiscal stimulus package-- Roubini says $300 billion is the necessary sum. This all leads David Brooks to the conclusion that bigger government is ahead.

I tell my upperclassmen that this is when they need to stay in school. Get your MBA, add on to your math coursework, think about becoming a CFA or an actuary, take more accounting classes, learn a foreign language. Because only the really strong have a chance to really thrive.

1 comment:

Keith Walters said...

"This is leading many to call for a fiscal stimulus package-- Roubini says $300 billion is the necessary sum."

Yeah, I wish they would have given the $700 billion to the people instead of the banks. Probably a dumb idea economically to give anyone money that the US does not have but at least that would mean I got a bonus instead of some idiot at AIG!