Friday, October 16, 2009

FT: The Second Great Depression is still on deck

A few days ago, you had this story making the rounds.

There's only one paragraph worth reading:

That rosy scenario thinking has returned to Wall Street should be no surprise. Wall Street profits from rising asset prices on which it charges a management fee, from deal-making on which it earns advisory fees, and from encouraging retail investors to buy stock, which boosts transaction fees. Such earnings are far larger when stock markets are rising, which explains Wall Street’s genetic propensity to pump the economy.

Why can't they really say what they want?  A 4-5% correction?

So they tout Great Depression II, to get out the sellers!

1 comment:

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