Good News Bad News -- MisNews MalNews

Flat is the good news.

Meanwhile, the pension snake oil peddlers that brought us the bubble are snaking to profit from the demographic reality that the bubble will unbubble itself.

And lawyers busy themselves thinking that a few lawsuits will somehow make up for a bubble that has ended. The NY folks at least try to tie the stock market drop to an unrecoverable drop in economic activity by stating that it "cost the Empire State $2.9 billion in economic activity." And the Oregon treasurer has to get into the game by filing a feel good law suit against Worldcom, even if only just to make a showing that he is trying to do something.

I share Jack Bog's assessment that big problems lie ahead, though my reasons may differ.