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When the Long View Isn’t So Scenic
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Peter Bernstein looks at the economic outlook for the future. He says we are too much anchored with our fascination of the past, as areassurance that everything turns out OK. When actually even the long run is a series of short runs, and navigating tempestuous oceans in aseries of short runs, is what we always do. When what happened before is little guide to what will happen next or in the next decade.
The views and wisdom of Peter Bernstein.
03/30/2008
Peter Bernstein who turned 90, has watched financial markets from the fifties as they recovered from the war and depression. He sees little reassurance from looking at the past and thinking that "the seas will be flat again." He thinks its vital that President Obama tackle the household sector and mortgages first, with forceful action to stop foreclosures by government intervention and compulsory mortgage modification.
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