Quote:
Originally Posted by marketsmart
not quite...
however, there are so many new factors that have never been present before now, such as loss of jobs, negative equity, and high consumer credit, etc etc etc...
tough times for some will extend to tough times for many...
like i have said many times this past few months, the US economy is on the verge of collapse. it will take a miracle to correct...
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That's exactly what people say every time something like this happens. "This is the first time, this time is different, this time things are really bad." People get so caught up in the moment, that they lose perspective of the larger picture. Zoom out, take a birds eye view of our current economic environment. Compare it to others we've been in. You'll find compared to other recessions, this one ranks mild at best.