Submitted by Paul, Mar 15, 2008 10:34

"The Fed's action means the system will not collapse, but the real problem is we face the worst post-World War II recession — one that will run deeper and be considerably more protracted and painful than Wall Street thinks," Oppenheimer & Co.'s chief investment strategist, Michael Metz, tells me. Most economists, he notes, expect pretty much the same kind of recession we've had since 1945 — shallow and lasting about 10 months. This time around, he figures it'll be different because he says "we're looking at four or five quarters of negative economic growth, beginning with the current quarter.""

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