British Pound

The Opportunity Cost Of Green Shoots

JPM's Michael Cembalest with a terrific compare and contrast between the current economic situation and that of the 70's. Useful to not that no matter how many contrasts on draw to previous major recessions, what we are living through now is so much more than a simple manufacturing recession as Rosie keeps pounding the table. Anyone who believes that the impact from the unwind of 50 years of progressively cheaper and pervasive credit will be resolved within a 1 year of the Lehman bankruptcy is either hopelessly naive, or ideologically conflicted, or both.
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The Opportunity Cost Of Green Shoots

JPM's Michael Cembalest with a terrific compare and contrast between the current economic situation and that of the 70's. Useful to not that no matter how many contrasts on draw to previous major recessions, what we are living through now is so much more than a simple manufacturing recession as Rosie keeps pounding the table. Anyone who believes that the impact from the unwind of 50 years of progressively cheaper and pervasive credit will be resolved within a 1 year of the Lehman bankruptcy is either hopelessly naive, or ideologically conflicted, or both.
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