AllupInyourBiz

Move over recession, make room for full blown depression. According to Reuters, the chairman of Mattlin Patterson, an private equity firm, said that he believes financial turbulence may lead to full blown depression. Patterson is quoted as saying “If you don’t accept that there is at least a 20 to 25 percent chance of a financial markets-led depression you’re fooling yourself.” I guess it is time to start buying gold or art, because if there is a depression, that money under the mattress is going to be as worthless as your bond certificates and trade receipts.