Wednesday, February 25, 2009

Optimism is one thing, but this is ridiculous

Voltron says: the worst case scenario that the FDIC will use for the bank stress tests is for housing prices to fall to historical norms, with no overshooting and the average unemployment rate next year to be 10.3 percent, basically in-line with forecasts.

http://krugman.blogs.nytimes.com/2009/02/25/not-much-stress/

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