There have been many natural disasters over the past few years, some on our soil and some in other countries. Countless lives have been lost, families torn apart and history changed forever. After reading this quote in the Wall Street Journal from people in Greenwich, CT, I am sick to my stomach that the current economic meltdown could be related to events that took so many lives.
A deeper analysis was offered by local Democrat Ned Lamont, who in one fell swoop compared Greenwich’s money woes to the Japan malaise, Asian tsunami and the New Orleans flood.
“It really is a financial tsunami, and it could go either way,” said the multimillionaire telecommunications mogul who ran for the U.S. Senate in 2006. “It took Japan 20 years to recover from their buying binge. How long does it take us to work through excessive leverage? That could take years not months. This is our Katrina.”
You be the judge.