c.i. wrote :
hbg, That "book" is outdated, because the economies of the US and the world has no resemblance to 1930.
yes , the book is outdated .
does that mean that people and governments make more rational decisions now ?
sure doesn't look like it to me !
to me the simple question is : where is the bailout money going to come from ?
i hear posters write that the debt of the companies "may eventually" be worth more than what is being paid for it right now . that's like telling a person dying of thirst that a waterpipe will be installed by next month - he is dying of thirst now !
commentator on CNBC just said that small companies have already been turned down by their banks for loans to meet their payroll obligations - that doesn't sound good !
just looking at the financial page of toronto's globe and mail : it's down , down , down ! the toronto market is down even more than new york .
but there is a bright spot : barrick gold - it's up 6% for the day - and up about 100 % over 5 years - but it's not in my portfolio <CRYING> .