November 24, 2008

A cheery quote to start the week

John Kenneth Galbraith, The Great Crash: 1929, Intro-XIV:

[...] The phrases are the same: 'The economic situation is fundamentally sound' or simply 'The fundamentals are good.' All who hear these words should know that something is wrong.
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2 comments:

  1. ChrisNovember 24, 2008 9:59 AM

    And here's a decent-but-not-fantastic article about why we're not going into a Great Depression II.

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  2. BartNovember 24, 2008 2:32 PM

    I enjoyed the Slate article. It would be interesting to see how often words like panic, collapse, failure, and bankruptcy appear in speeches and statements over the length of this economic downturn.

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