A friend of mine, Jeff Linderman, asked me to post this so that there is a record of his prediction. The text is taken from an email submission he made to two major financial publications. When he gets his own blog, he'll post the content there. Until then, you heard it here first.
The summary: Jeff Linderman, underground financial pundit to the few and vastly unknown to the many, highlights the link between systemic leverage and misleading aggregate economic growth over the past five years. His conclusion? A modern-day Depression cannot be ruled out.
Jeff Linderman: economic downturn could become a depression
Update 2008-11-12: Jeff Linderman now has his own weblog on blogspot, Economic Vesuvius.
By semi-popular demand, this is a compendium of musings on our current and future social/financial/economic state of affairs...with input from family/friends/colleagues. Its purpose is to fill a void in mainstream media coverage which, by definition, appeals to the masses and is generally devoid of critical or semi-controversial analysis. Expect to see discussions of financial topics in anything from equity markets to commodities to FX; economic topics such as retail sales and personal consumption/industrial production; and social/cultural behavioral phenomena as it relates to our present and upcoming quality of life.
Update 2008-11-13: Jeff Linderman beats Soros to the punch: Soros says deep recession inevitable, depression possible.
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