Write This One Down

Headline, page one, The New York Times, August 21, 2009:

World’s Central Bankers Voice Optimism About Recovery

It’s all over, this Great Depression III, they say. The stock market is somewhat happy and there’s an unfreezing of the short-term securitization markets, they say. You know, those two things are clearly the engines of economic well-being.

Jesus Palomino! This system is toast.

Write this down and remember it a year from now…