Speed Kills: The Economic Unwind
by Tom on December 6, 2008
in Market Musings
Paul Kedrosky at Infectious Greed has a good write up of the speed of the economic climate change we’re going through. I’ll have a few more comments after these excerpts….
…….Note: I’m not saying faster than any since WWII, or since the Depression, or whatever. I’m saying that this unwinding of the U.S. [sic.] and global economy is happening faster than any since glaciers covered the NYSE…..
……On the other hand (and this is closer to my view), the optimists are akin to saying that one high-speed highway collision is better than a bunch of low-speed ones. Hey, you got it over with quickly! The trouble is, of course, a few low-speed dings are not only survivable, but may turn out to be merely cosmetic — while one high-speed crash tends to destroy the vehicle and its occupants.
Paul Kedrosky: Speed Kills: The Economic Unwind.
A lot of people (present company included) have compared what’s been happening in the financial markets to watching a slow motion trainwreck. Paul makes a pretty convincing cause that up until the lasts 3 months, it was a slow motion trainwreck but the speed that things have gone up is quite something.
I wish I could say that we’re close to the end of the collision, but we aren’t.
What are you doing to prepare yourself, your clients and your business from the problems?
Tom Vanderwell
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