change, contrarian, debt, employment, freedom, recession
Here in the Spring of 2009, it's easy to say that the financial crisis has decimated the global economy:
*Unemployment in the U.S. (and many other countries) is at a 25-year high
*An average of 40% of wealth has been lost by investors around the world
*Consumer spending is down almost everywhere
*Federal Interest rates are close to 0%
The gloom-and-doom is getting serious, people. Are you all ready to go down in the storm shelter and start putting gold under the mattress? Hopefully not, because we have something important to talk about today.
I’m not trying to make light of hardship in any way. I’ve previously explained that the recession sucks. All of us have been affected one way or another. If I had the choice, I’d prefer to have 15% gains for no work every year. Bring back the bubble!