Prepare for the Pretty Bad...
The world we are now in--the one in which there is a 50-50 chance that the unemployment rate will still be roughly 10% fifteen months from now (and would be in the 11-12% range but for the ARRA) was a 15th percentile world 11 months ago.
What is today's 15th percentile forecast for what the world will look like in a year?
And what are we doing now to prepare for that world--should it come to pass?
