The Storm Before The Calm
The financial storm has been raging for more than a year and has recently grown into a category 5+ hurricane. It has blown the roof off housing, tossed companies to the wind, and drowned many of our safest investments. But like all storms, this too shall pass and a calm will settle in. The damage will have been done and the recovery efforts will go on for quite some time, but the calm will return. How can I be so sure? Because never in the history of the modern day global financial system have so many resources been unleashed by so many. Trillions are being spent around the world to shore up institutions and national economies and it’s not over yet. That is no small matter and the world WILL see results, albeit slowly, and normalcy will return. The landscape will change and history will look back on these days and call it our great Depression. Not the same as in 1929, to be sure, but a game-changer nonetheless, as we see a transformation of rules, regulations and corporate and Everyman habits. They say “old habits die hard” and we are now living proof.