GLOBAL stock markets have rallied sharply because of the promise of yet another bailout of Greece. Despite the euphoria, the massive private and public-sector European debt overhang is as serious as ever. The threat of contagion, leading to one or … Read the rest
December 2008:- Historians will narrate one day how central bankers were hopelessly out of touch with reality ahead of the greatest economic crisis since the thirties.
Despite numerous warnings, notably sliding US and European real estate prices, a worsening credit … Read the rest