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Recese na 20 let – proč neříct rovnou deprese

09/12/2009

Recession for a Whopping 20 Years

The Daily Bell, 8. 12. 2009

The recession could last for a whopping 20 years, John Rosevear of the Motley Fool writes. Rosevear points out that on Dec. 29, 1989, the Nikkei 225, Japan’s benchmark stock index, reached a high of 38,957. However, on December 3, 2009, it closed at 9,977.67, a startling 74% decrease. He predicts that the US will follow the same fate because of “excessive asset expansion,” weak corporate governance and the bank crisis. “The Japanese government’s response to the crisis was very different from that of the United States. In a nutshell, it was several years before its government did much of anything, and what it finally did do was arguably too little, too late. But at the same time, it’s hard to argue with this: In the past decade, the S&P 500 index is down more than 20%. It’s a disturbing parallel to ponder, especially for those of us worried about our retirement portfolios,” he said. With the unemployment rate at 10 percent, some experts are predicting the recession could end by the middle of next year, Bloomberg reported. Harvard University professor Jeffrey Frankel, a member of the National Bureau of Economic Research’s Business Cycle Dating Committee, said the recession could end by the middle of 2010. … He said the current estimates “presume that there won’t be any new adverse shock. – MoneyNews

Free-Market Analysis: We remember when we were doing Internet research for a book that we came across a quote from the elitist Fabian Society. We can’t find the quote, but we remember it had do with how the West and its citizens were going to see a remarkable acceleration of “change” in the 2000s – and that the changes would be both baffling and powerful.

 The implication was that a blizzard of change was coming, and that it would help reshape society as we know it. Yes, „change“ was going to come from all angles. And since the Fabian Society was the one anticipating this change, we decided then and there, about five years ago, that the changes being contemplated might be momentous indeed. We also think of this quote by H.L. Mencken when we contemplate what’s going on: „Democracy is the theory that the common people know what they want, and deserve to get it good and hard.“

(celý článek: Recession for a Whopping 20 Years)

Recession Seen Lasting 20 Years článek Money News

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