[ExI] Sudden outbreak of democracy baffles US pundits

Stathis Papaioannou stathisp at gmail.com
Tue Oct 7 07:04:23 UTC 2008

2008/10/7 The Avantguardian <avantguardian2020 at yahoo.com>:

> I agree with the gist of what you are saying, but it won't last that long. Great Depressions are no longer possible because the markets and everything else react far too quickly to any bit of information in the age of the Internet. What others call a depression, I call a white-sale on blue-chip stocks. And my only regret is that I don't have the money to go on a wallstreet shopping spree. Besides I have other investment priorities at the moment. Fear is useless *after* the bubble bursts because it is too late to sell.

How does getting information in seconds rather than hours or days, as
in the 1920's, prevent a depression? In any case, even if the actual
period of recession or depression doesn't last very long the memory of
the severity of the crash will see to it that the prolonged bull
market of the 1990's and 2000's won't be repeated for many years yet.

Stathis Papaioannou

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