*OT* He didn't get much a chance to explain himself, but Jeremy Siegel of Wharton spoke on TV this morn, and stated that he did not think this recession would be that deep- primarily that this boom's "problem" (my word) was primarily a financial bubble, contained within a segment of technology, and was unlike the recession of 1990, which he is claiming had a greater, deeper impact due to the bubble in real estate, and other high fixed assets (he claims..the internet firms had little in fixed assets besides people..so, implied, the condition can be relieved quicker)
I was surprised, to say the least, to hear his "summation"....he doesn't seem to think there is a linkage from the bubble to other parts of the economy, and may not mention of debt/derivitives issues....would like to find out more on his view....Siegel is no dummy, and was blowing the bear horn loudly during the bubble... |
