Date: 2007-08-16 09:34 pm (UTC)
From: [identity profile] opadit.livejournal.com
Didn't the Fed flood the economy with two injections of multiple billions of dollars last week? Seems like the only people who believe in the American dollar any more are Americans. It's like when we went off the gold standard.

I've heard the likely outcome of the current situation compared to the recession of the early 1980s. I'm not that optimistic -- but I've been a millennialist for longer than it's ever been fashionable.

Date: 2007-08-17 07:55 am (UTC)
From: [identity profile] glaucon.livejournal.com
yeah, optimistic is a good word for it.
I think we'll be lucky if it only gets as bad as the early 1930s.

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