Bob Rodriguez: “We went over a waterfall but the river is still flowing south.”
June 4, 2009 at 10:00 am · Category: Macro Economics, Market Commentary
It appears that we have seen the worst of this credit crisis in the sense that we went over a waterfall but the river is still flowing south. The bulk of the economy’s credit problems are still to come, as charge-offs on trillions of dollars in loans remain to be recognized.
- Bob Rodriguez, First Pacific Advisors, “V-Shaped Recovery Outlook Is In Vain” (subscription required), June 3
Excellent piece by Bob Rodriguez, First Pacific Advisors, posted on Barron’s yesterday. Highly recommended. E-mail me for a link.
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