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Farrell: "another crash bigger than the 2000 dot-com blowout and 2008 subprime meltdown combined."
I think the Farrell column is pretty sloppy stuff. The argument seems to be "1. Pundits pumped up the markets with overoptimistic hype before the 1929 crash and before the dotcom and mortgage finance bubbles burst. 2. Pundits are pumping up the markets with hype again. 3. The reprehensible megabanks that were bailed out three years ago are back to their old tricks with no apparent remorse. 4. Therefore, we are heading for the crash of all crashes." It seems he thinks that doomsaying is the antidote for hype. I prefer more measured analysis.
Paul B. Farrell
Comments
I think the Farrell column is pretty sloppy stuff. The argument seems to be "1. Pundits pumped up the markets with overoptimistic hype before the 1929 crash and before the dotcom and mortgage finance bubbles burst. 2. Pundits are pumping up the markets with hype again. 3. The reprehensible megabanks that were bailed out three years ago are back to their old tricks with no apparent remorse. 4. Therefore, we are heading for the crash of all crashes." It seems he thinks that doomsaying is the antidote for hype. I prefer more measured analysis.
gfb
OJ