The outlook 48 (!) years ago: “For nearly four years, the deterioration in the environment caused by civilization has been the most important stick with which the conscience of the beneficiaries of free economic systems has been beaten….”
There is another Bible verse we should remember during this time of troubles: “The king’s heart is in the hand of the LORD, as the
The solution to the toxic asset problem, and the credit crisis, may well be the one propounded by Holman W. Jenkins in his Wall Street
The recently announced Fed action has been characterized as a massive exercise in printing money, in “pumping liquidity“. But such characterizations, once again, are misleading.
are lukewarm at best. Today’s Wall Street Journal op-ed (“The Geithner Asset Play“) raises the appropriate objections. The goal of the plan, which is to