NJ5 on 10 July 2009
Who said I was accepting their spin? I have my own reasons to believe that the recession will end by the middle of next year
What are those reasons?
Maybe its because they don't feel their debt is as crushing as your source seems to believe
Really now? So everything is rosy, there isn't too much debt and we aren't seeing a huge number of foreclosures which are sinking Freddie Mac, Fannie Mae, AIG and other financial institutions?
That assumes that the banks won't be able to survive the 10-12% unemployment
It's a very good assumption, since the capital levels of the big banks were set according to the assumption of much lower unemployment (I suppose you read about the stress tests, if not you have to).
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