Quote from Clubber Lang:
ByLo is David Tice!!!
I actually am in full agreement, so I really don't take exception to that.
I think things are so much worse than 98% of the population does, but I don't think I'm pessimistic. I think I'm a realist.
I've been telling people this is not a business cycle recession; we are undergoing a macro, structural change, and it will take a decade to complete the process.
By the time all is said and done, and equilibrium is achieved, most people here will freely admit they would have never believed what they have by then witnessed, as we settle into the 'new normal.'
The one component that could really make life hard for all global participants is productivity gains. That would exacerbate the problem by a magnitude that is truly frightening.
If businesses increase output dramatically, using fewer employees and lower resource utilization, economic policy will have to be completely redeveloped to stave off the 'Greater Depression.'
