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It’s not liquidity, it’s uncertainty ...
W hy do we continue to see disruption in global markets? Two words: Hank Paulson. As the Heritage Foundation points out: By the end of September, Paulson was asking Congress for $700 billion in funds he claimed would be used to buy mortgage relates assets from U.S. financial institutions. Less ...
Uncertainty, climate change, and the global economy
Uncertainty, climate change, and the global economy
voxeu.org — Torsten Persson , David von Below , 21 November 2008 What will the climate be like in... a hundred years’ time? The answer depends on both how human activity affects climate change and how a warming climate alters the economy’s productive capacity and ... (more) Uncertainty, climate change, and the global economy
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The Reichstag fire of the financial world, part II: scapegoats and a bait-and-switch
Eidelblog — The original Reichstag fire needed a scapegoat, and today's financial Reichstag fire is no different. The scapegoat needs to be an innocent party who was found there. He doesn't even need to be plausibly guilty, only that the public will accept whatever story the government feeds them. Capitalism was "there" in this financial Reichstag fire, and it was "guilty" in that investors and investment managers made bad decisions, but it's hardly plausible guilt once you investigate and realize that everything happened because of deeper causes than those bad decisions. Capitalism is merely taking the blame for the "financial ...

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