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I don't remember the guys name.. but my Freshman year... some hotsie totsie economist did this big 3 hour power point presentation predicting all of this... We got an automatic A in poli sci if we went and wrote a paper about the presentation... it was like a $50 ticket to see this dude...
Then he showed us the trough and wave pattern surrounding catastrophic events in history...
Similar unemployment numbers, recession numbers, GDP dips... happen 5-10 years following most catastropic events...
If you talk to any of the big economists that aren't being paid to doom and gloom in the Times or to political pundits... they will tell you this is normal.. it will bounce back.... trough and wave.. trough and wave..
But there's money in selling articles and interviews of doom and gloom...
That's not to say I don't think it's bad... and I don't think it's going to affect us.. and I don't think it's real..
but it will bounce back. History shows that with similar scenarios.
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