i was just reading the toronto star before going to bed, and i am reading with interest ... economists are forewarning worse than a recession, and stock markets are plummeting.
i can't help but think back to my history seminar class, where the discussion about the US sub-prime mortgage market led to Canada. some adamantly claimed it would never affect Canada. being the only economics student in the room the professor turned to me (as he had a habit of doing, much to my .... frustration) for my opinion. surely i must have some opinion or insight? well, put on the spot and turning red as beet, i forewarned a recession. and surely it has come.
i guess in this case i hate to be right.
now, while i am on the topic ... i find it kind of funny that when elections come around, all of the sudden everyone is an expert on the economy. well, i hate to say it, but when economists hardly understand it, it is likely you don't either. or maybe i am just speaking for myself?
UPDATE
worst things beautiful - ours
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