Wednesday, February 11, 2009

No good news anywhere

Catching up (a little) on articles and blogs tonight. I can't find a single optimist among economists out there in what's being done to tackle the financial market front of the crisis. Prognoses range from very bad to apocalyptic bad. I think everyone agrees with most of this Martin Wolf column from the Financial Times.

Even Casey Mulligan, who a few months ago was predicting this would all be over soon, seems to be changing his mind.

We're clearly hosed in the long-run, but apparently hosed in the intermediate-run as well. And it won't matter who is elected in 2012.

I'm thinking of just dumping any money I have in stocks and holding it as cash (ie: at my miracle bank), I don't think anyone is expecting equities to increase in value much for the next couple years. Roubini and Taleb are still holding cash.

This weekend I'll likely listen to a Piper sermon on the recession.

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