Published: June 12 2008 18:46 | Last updated: June 12 2008 18:46
In financial markets, as soon as you hear the words “new paradigm” you know the next catastrophe is not far away. The reasons are not complex nor are the observations opaque. It does not matter whether it is dotcoms or subprime mortgages. Sooner or later in market cycles the main participants, and especially the banks, become carried away with a Wildean belief in their own, oft-declared genius.
3 Responses to “THE U.S. ECONOMY – IS IT FUBAR?”
June 14th, 2008 at 3:04 pm
When you hear ‘new paradigm’ head for the hills
By Ian Morley
Published: June 12 2008 18:46 | Last updated: June 12 2008 18:46
In financial markets, as soon as you hear the words “new paradigm” you know the next catastrophe is not far away. The reasons are not complex nor are the observations opaque. It does not matter whether it is dotcoms or subprime mortgages. Sooner or later in market cycles the main participants, and especially the banks, become carried away with a Wildean belief in their own, oft-declared genius.
http://www.ft.com/cms/s/e8e7e73c-3894-11dd-8aed-0000779fd2ac,s01=1.html
July 1st, 2008 at 2:45 am
Update: $5,000bn assets to return to bank balance sheets from accounting changes. Real credit crunch has only just started.
http://www.ft.com/cms/893ac9c8-757e-11dc-b7cb-0000779fd2ac.html?_i_referralObject=780317353&fromSearch=n
July 14th, 2008 at 3:50 am
Time for comrade Paulson to pull the plug on the Fannie and Freddie charade
http://blogs.ft.com/maverecon/2008/07/time-for-comrade-paulson-the-pull-the-plug-on-the-fannie-and-freddie-charade/#more-279