Monday, March 2, 2009

The economy

Don't look to the Crash of '29 and the Great Depression for a model for the current economic situation. Look instead to the Panic of 1873, the events that led up to it and the Long Depression that followed it.

Oh, and OPEC wanting oil at $70/barrel? Not happening, guys. Not unless they cut production by 100%, and maybe not even then. And they aren't going to shut themselves down to force the price of oil up. OPEC needs to accept that, given the current economy, their desires are just unrealistic.

No comments: