Well I’ve been saying it for quite a while too...
I have no doubt the overall impact to the economy will be far far larger than the S&L crisis, and bigger than anything this nation has seen since the great depression when all is said and done in terms of the numbers.
The only question is how fast it deflates... if the deflation remains slow enough so that the rest of the economy can absorb it, things won’t be horrible. If however it deflates quickly, a lot of people are going to see things they have never seen in their lifetimes.
lovely