A look at the next phase of the crisis, as it hits the real economy

Summary The global financial situation is complex and wreathed in fog, but at least two things are clear. The financial crisis consists of fore-shocks before the main event. A new geopolitical order will mark the solution of this crisis; it lies far in the distance. This post examines the grim details of item #1.  A loss of … Continue reading A look at the next phase of the crisis, as it hits the real economy

Causes of the financial crisis (no, its not the usual list)

Summary:  Much of the analysis of this great crisis -- now clearly the worst since the 1930's -- focuses on minute, even trivial, aspects of the problem.  This is natural, as its sweep and magnitude dwarf anything seen during our lifetimes (for most of us, at least).  It has affected almost every business, kind of investment, … Continue reading Causes of the financial crisis (no, its not the usual list)