Congressman Welch explains the problem with the financial sector in one short quote.
This is from a great piece by Joshua M. Brown at CSMonitor.com.
It’s too early to call a double dip recession as being imminent or inevitable, but it’s never too early to mentally prepare for one.
My advice is to stop thinking 2008 and instead start thinking 1938 or 1953 or 1969 or 1981, you get the drift. Not every slowdown is a crash and we are in a secular bear market after all.
Oh, hello global financial crisis. I didn’t see you there behind all billions I was busy making.
Chart courtesy of CalculatedRiskBlog.com.