Website review: Crisis may make 1929 look a walk in...
Aeneas101 discovered this in Economics
•4 reviews since Dec 26, 2007
economics
•telegraph.co.uk/money/main.jhtml
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Aeneas101 discovered 8 months ago- Faces of power: The Fed's Ben Bernanke, the BoE's Mervyn King, the ECB's Jean-Claude Trichet From the page: ""Liquidity doesn't do anything in this situation," says Anna Schwartz, the doyenne of US monetarism and life-time student (with Milton Friedman) of the Great Depression. "It cannot deal with the underlying fear that lots of firms are going bankrupt. The banks and the hedge funds have not fully acknowledged who is in trouble. That is the critical issue," she adds."
- Yoza rated 8 months ago
- From the page: "York professor Peter Spencer, chief economist for the ITEM Club, says the global authorities have just weeks to get this right, or trigger disaster. "The central banks are rapidly losing control. By not cutting interest rates nearly far enough or fast enough, they are allowing the money markets to dictate policy. We are long past worrying about moral hazard," he says. "They still have another couple of months before this starts imploding. Things are very unstable and can move incredibly fast. I don't think the central banks are going to make a major policy error, but if they do, this could make 1929 look like a walk in the park," he adds."
- demonveen rated 8 months ago
- The hysteria mongers are all screaming. Have you noticed that no mater what happens someone is willing to write an article about how it is going to be worse than 1929? And whats funny is that even after 1929 AND WWII the 20th century still turned into the most prosperous century the world had ever known -- and that happened EVERYWHERE. (yes Virginia, even in Africa) So shut up you fear-mongering crybaby whiners. No matter how much you hate the United States we are going to be up your ass till China takes over. And that is going to take longer than you expect.
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