With what appears to be the imminent passing of the bailout he calls “too little too late,” Jupiter-based economist, Martin Weiss says the worst is yet to come.
He tells NewsChannel 5, “Be prepared for a long, deep and very painful crisis over the next couple of years.”
But, Weiss, whose research company advises members of congress, believes, if history reapeats itself, the bailout could offer a temporary benefit for taxpayers.
He explains, “If you look back, you’ll see every time government has acted its helped calm the markets a little bit, you’ve gotten a rally in the stock market and in this case you might get that plus a little recovery in the housing market.”
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