Is Wachovia the Next WaMu?

The rumors are flying fast and furious now. It is impossible to overstate how bad things are getting.

Just remember the worst years of the Great Depression weren’t in 1929 (2008) or 1930 (2009). The worst years were in ’31 and ’32 (’10 and ’11) before bottoming out in ’33 (’12). Even then, as we all know, the Great Depression dragged on all the way until World War II (2020, though we’ll surely be at war before then if McCain takes office).

P.S. I realize that dating the start of our own economic meltdown is difficult. If you date it back to August of 2007 (as some do), then we are already in the equivalent of 1930. In any case, 2009 is going to be a year of suck.


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