Tuesday, October 21, 2008

analyses of the current financial crisis

first aig needs $37+ billion supplemental loan, because apparently, the first $85 billion wasn't enough. now the banks are sitting on all that cash the government gave them (see here), pretty much guaranteeing that that move is doomed to failure. the chairman of the federal reserve and the speaker of the house are each talking about additional injections of capital into the economy (that's two separate plans), to the tune of hundreds of billions of dollars. and you can bet that won't be the end of it.

they say that one definition of 'insanity' is to do the same thing over and over again, but expect a different result. what do you call this?

looks like a few pundits are starting to question the orthodox view:
for some insightful analysis of our current predicament, along with a reasonable path forward, take a look at:

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