Wednesday, November 12, 2008

Troubletown comics:

Political cartoons, updated every Wednesday. One frame from this week's cartoon is, as they say, right on the money:
UPDATE: The "D word" is spoken by a Wall Street bigfoot: (emp add)
The economy faces a slump deeper than the Great Depression and a growing deficit threatens the credit of the United States itself, former Goldman Sachs chairman John Whitehead ...

"I think it would be worse than the depression," Whitehead said. "We're talking about reducing the credit of the United States of America, which is the backbone of the economic system. ... I see nothing but large increases in the deficit, all of which are serving to decrease the credit standing of America. ... I just want to get people thinking about this, and to realize this is a road to disaster. I've always been a positive person and optimistic, but I don't see a solution here."
Calculated Risk comments:
So far most of the Great Depression discussions have been phrased in terms of "worst since". Whitehead has taken the next step - however I think "worse than" is extremely unlikely.


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