A Mere Scratch…
Now even CBS is saying the word in their business section: Goldman Sachs: Brace For Recession In 2008.
Let’s see, it will technically be a recession™, but not to worry, because it won’t last long, probably be gone by 2009, so no worries. OK, so maybe the Federal Reserve will have to half the funds rate, and mortgage lending is in meltdown, and consumers can’t afford to consume, and businesses will stop making what they consumed, and people will lose their jobs, but it’s not so bad.
That’s right, short lived, like an earthquake, tornado, or tsunami – how bad can it be? If I had the income and tax rate of the guy who wrote the report for Goldman Sachs, not too bad at all, as I could probably get a great deal on a new house [or subdivision] almost anywhere I wanted to live at a foreclosure or tax sale, possibly a yard sale before things settle down. There will be a whole new meaning to “garage sale” – it will come with a house attached.
2 comments
Shhhhhh… can’t use the “R” word. The Fed is now forecasting “slow growth”.
Well, such times are certainly noted for slow growth – negative numbers tend to do that.