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Strategies & Market Trends : SiliconInvestor All Stars Forum
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To: ballsschweaty who wrote (1173)8/7/2007 11:10:38 PM
From: John VosillaRead Replies (1) of 1718
 
I suggest reading Ravi Batra's 'Depression of 1990'. I think Mish and Ben Jones' blog followers are way too the fringe and rehashing the same mantra. USA at the margin will be a less dominant player. Just the collapse of our currency by 50% and a global boom at the same time shows that to be an ongoing trend.. I expect a recession, a stock market crash or two and continuation of the RE downturn the next couple of years. Not anywhere close to a doom and gloom scenario unless you start seeing the likes of Citicorp, JP Morgan, Wells Fargo and Bank America on the verge of insolvency like in 1990.. And even then with commercial RE nationwide collapsing 70%, our banking industry in ruins, Japan collapsing into depression and US home prices in our largest markets down an average of 30% we came out okay..
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