Monday, July 19, 2010

A Twist On The Spill

I thought that this "larger view" perspective on the BP oil spill was interesting.

"The specifics of the disasters are, of course, unpredictable.  But it's reasonable to expect an increasingly negative social mood to bring about a daisy chain of incompetent decision making, corner cutting and the willingness to assume bad risks which will result in tragic accidents.  What may turn out to be the 'biggest environmental disaster the country has ever faced' fits perfectly with the resumption of the bear market that will end as the biggest in the lives of all who survive it."
Steve Hochberg, Elliott Wave International