Yes, God bless Paul Krugman. Read his twice-weekly op-ed pieces in 'The New York Times'. He won't snow with economists' cant nor blind you with the usual political spin verbiage. He tells it as it is. You may not always agree with him but you can never say that he didn't tell you so. His 03 December 2007 column summed up nicely the liquidity crunch in world markets. What's more the slick instruments of the subprime markets have gone haywire that not even the Bernaeke at the Federal can punch his way out of the crisis, let alone the grand pooh bah of Wall Street US Treasury Hank Paulson.
I do recommend seeing Walt Disney's 'Fantasia', especially the segment on the 'Sorcier's Apprentise'. That good reader says it all on the ball of string that is fast unwinding in the world markets that greedily packaged and bought and resold the subprime alphabet soup of financial wizardry.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment