Economic Review |
10/06/08 The bail out is here but should the reasons behind the economic crisis we are facing be quickly forgotten? No Much of the recent spin machine is now in damage control, where the mouthpieces of the Goldi-Locks scenario who consistently asserted that there was nothing wrong with the US economy and in fact it was in great shape are running for cover. Many hope that the recent bail outs are enough cover to make the average American forget why it happened and who and what factors are to blame. Well not so fast. Yes the big bail out plan has been passed, however the effectiveness of it to address the dire situation the US is facing and the negative ramifications of it are to be analyzed for years. The fact remains that the US economy is in dire straights and the magnitude of the weakness is probably still to be felt. So if you’re the average guy that’s feeling the pain, you may not want to forget those that said all is OK during the period the bubbled scenario was building. Remembering the causes helps mitigate the probabilities of it happening again. Whether you like him or not, at least this guy is pointing the finger and letting the world know what he thinks. |
Stephan Kudyba (MBA, PhD) THE MARKET DOCTOR |
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