After many of you have emailed over the past few months and years saying that our Captcha was impossible to penetrate (I use penetrate because many of you were so frustrated with the commenting hassle that you told me to go F off). Anyway, I noticed that Intense Debate launched a new blog system, so I went with it. Based on how it goes, I might make the switch across all blogs in the http://www.BloggerMojo.com network.
Update 1: I deactivated the Plug in. I feel like it’s 1996 and I need to edit in Code format. Sorry IntenseDebate guys, fix that and it might go back up. Might look into Disqus, too.
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WatchMojo NewsletterThe Dr. speaks:
- The U.S. will experience its most severe recession since World War II, much worse and longer and deeper than even the 1974-1975 and 1980-1982 recessions.
- The prospect of a short and shallow six- to eight-month V-shaped recession is out of the window; a U-shaped 18- to 24-month recession is now a certainty, and the probability of a worse, multi-year L-shaped recession (as in Japan in the 1990s) is still small but rising.
- Obama will inherit an economic and financial mess worse than anything the U.S. has faced in decades: the most severe recession in 50 years; the worst financial and banking crisis since the Great Depression; a ballooning fiscal deficit that may be as high as a trillion dollars in 2009 and 2010; a huge current account deficit.
- The world economy will experience a severe recession.
- The advanced economies will face stag-deflation (stagnation/recession and deflation) rather than stagflation.
- Expect a few advanced economies (certainly the U.S. and Japan and possibly others) to reach the zero-bound constraint for policy rates by early 2009.
On the bright side, well… scratch that. Read more here. If “doom” could be a tag, I’d tag this post as such.
The stock market is down 40% since its peak, roughly one year ago. Some have been hurt more than others, check out this list from Vanity Fair, published October 9th, 2008:
The Dow Jones Industrial Average established its all-time high of 14,279. Friday morning it will open at 8,579—a 40 percent drop.
Scary! What’s worst, is that in the month since that article, things have gotten worst, the Dow closes below 8,300 yesterday, Nasdaq is at a level of 1,500.
Check out the list here:
Chalk one up for diversification.
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