On Jan 22, 2008, at 1:11 PM, Seth Ackerman wrote:
> Doug Henwood wrote:
>
>> Ok I'm starting to get calls from journalists about The Turmoil. In
>> the past, this has been a sign that we're getting close to the end of
>> a panic. We'll see if it works this time...
>>
>> I'm going to be on Al Jazeera this afternooon. I'm rather tickled.
>>
>>
>>
>
> Doug, there's such a thing as being too anti-catastrophist. House
> prices
> still have a long way to fall, banks will write off more debt. Even if
> the economy doesn't fall apart - even if there's no recession at all -
> this certainly isn't the end of the financial turmoil. A month or two
> ago, you were saying the panic was all an August thing and now it
> looked
> like it had worked itself out.
Hey, I said that the U.S. was probably either in or close to recession, and that it was likely we were facing years of close-to- zero growth. But in the 21 years I've been doing this stuff I've noticed that when I get calls about a financial melodrama it's closer to the end than the beginning. Maybe it's different this time.
> Will you be on AJ English or AJ Arabic? My dad's in the Washington
> bureau of the English service....
Alas, postponed til tomorrow.