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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: