... I don't know but people like Alan Greenspan, who said yesterday this is the world's worst financial crisis in a century,
Meaning what, sarcasm aside? That I said everything is fine, no worries? Not here.Phew! What a relief!...
That's per Mr Greenspan not me. I think he's right in the short term.Psst: Did you remember to update the counter?
Yes, the statements are radically different. To say this is the 'world's worst financial crisis in a century' one must overlook the history of the great depression, 70's stagflation, and so on. Jobs, income growth, GDP growth, liquidity, bank failures, home foreclosures, stock market, or global effect - none of today's news even approaches the 1930's figures per capita. What is unique (as in 'type') here is the amount of resold home mortgage securities held by wall street investment banks - that has never happened before in US history.Okay, a once in a century "type" of crisis. Does this somehow diminish the significance?