Quote:
Originally Posted by Alfisti
From an economic perspective, the horse has bolted. In Canada and the US the spending and deficits in boom times was an appalling lack of spine and means there is no war chest, so we are now adding monumental debt to monumental debt to try and keep everyone afloat.
I am not saying I have answers, i am saying the damage is going to be of epic proportions and folks are deluding themselves if they think this all goes back to normal in a hurry. We are seriously, seriously looking down the barrel of 20% unemployment, the consequences of that are near unimaginable.
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Agreed on most parts. We're not looking at the 2008 recession as a comparison for this economic crisis anymore. We're way past that.