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| We miss that generation. All that is left are memories of people who talked to them. And these people are themselves getting quite old now.
The 30s corrective cycle low was instrumental in "re-setting" the cycle, which made possible the good times that we are still in. Now we have the hubris to think that we can manage these cycles and avoid those corrective cycle lows - but it sure looks like we are about to find out otherwise. The corrective lows change the psychology, and the only way that is done is to go through the hard times, IMHO. | |
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Next economic question. WHY is debt so prevalent throughout the world today?
