by John Mauldin
I write this introduction from an all-too-short vacation in Montana (more below). This week I have asked my longtime associate Patrick Watson to step in and write Thoughts from the Frontline, offering his perspective as a small business owner.
As you read this, realize his story is being played out hundreds of thousands of times all over the US and maybe millions of times all over the world. It is why I said last week that this depression/recession is unlike any we have experienced. Parts of our economy are doing well, parts are in recession, and a significant portion is already in a depression. As government guarantees wane in the future, more and more companies and people will slip into the depression category. But I will let Patrick tell his own story.