Are we headed into “THE GREATER DEPRESSION”
Monday, September 15th, 2008
According to CNN
Art Hogan, chief market strategist for Jefferies & Co., said the magnitude of the financial industry fallout is unprecedented, and could only be compared to the Great Depression of the 1930s or the railroad bankruptcies of the 1800s.
“We’ve never witnessed this before,” said Hogan. “There’s no road map for this.”
With the collapse of Lehman Brothers and Merrill Lynch selling itself to Bank of America the stocks plummetted today to lows we have not seen since the aftermath of 9/11. In times like this do we really need John McCain who think the economy is fundamentally strong, someone whose ads say things are bad but his actions and words say things are ok. I feel like a commercial: JOHN MCCAIN, WE JUST CAN’T AFFORD MORE OF THE SAME!
