In the classic disaster movie, The Towering Inferno, faulty engineering causes an electrical short which sets off a fire in the world's tallest building. Following which, there is initially a sense the accident can be contained, and the fire swiftly put out, but it turns out that was merely wishful thinking and after brief interludes of hope, more setbacks ensue until disaster finally unfolds. This is an unintended parable for the current state of the economy, so says Monness analyst Brian White, who believes it will take a “deluge of extraordinary forces to put out this blaze and avoid further destruction.
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