A Quick Quote
Floyd Norris has a rather pessimistic post today in his NYT Business Blog. It is hard to blame him given how European and Asian markets are taking a nose dive. Mathew S was a bit more optimistic commenting to Mr. Norris. He suggests we
“… Read the Clement Juglar’s classic, A Brief History of Panics in the United States (1916). Only three phases of all markets: Prosperity, Panic, and Liquidation. We’re in Panic. Liquidation and Prosperity to follow.”