Posted by
Stefano on Tuesday, January 27, 2009 8:21:53 AM
Bennett Sedacca, President of Atlantic Advisors, LLC has written a sobering commentary today declaring that we are in the beginnings of a depression. Business activity is plummeting. Prices are falling. Unemployment is rising rapidly. Industry leaders like Caterpillar and Pfizer are announcing huge layoffs.
Sedacca compares our situation to an avalanche that cannot be stopped. He also points out that with Paul Volcker as the President's economic advisor, we can look for tough times ahead in the mode of the Jimmy Carter years with short term interest rates approaching 20%.
It's an eight page commentary that merits your attention.
Link:
http://www.atlanticadvisors.com/uploads/market-commentaries-2009-01-26-cast-your-vote.-recession-or-depression..pdf