The commentators have it all wrong. Look on the bright side. The world economy is not in a period of negative growth. It’s in a period of positive collapse! That’s why the Great Depression was so great, after all. What’s positive about this depression is that it is clearing away a generation’s worth of mistakes, misallocations of resources and misplaced confidence.
March 10th, 2009 | Bill Bonner | 0 comments | ContinuedAll Posts Tagged With: "negative growth"
Plenty of Offers, Few Bids
The markets of 2009: plenty of offers; few bids. From Dubai comes word that the property market has not just fallen…it has ceased to exist. This from Justice Litle: “You can’t put a percentage figure on the market drop. In fact, there isn’t a market at all. The scary thing is, they’re nowhere close to facing reality… the official listings have only reduced prices by 10-20%, even with no buyers in sight, and builders are hoping to build more…”
February 18th, 2009 | Bill Bonner | 2 comments | Continued
