Whoever was responsible for the mistakes, capitalism went about correcting them with its customary élan. It hit imprudent investors with trillions in losses. It knocked down mismanaged corporations. It whacked homeowners…
May 12th, 2009 | Bill Bonner | 1 comment | ContinuedAll Posts Tagged With: "Bubble Epoque"
Now in Post-bubble Era as Financial Industry Bombs Out
Yesterday, both the Bank of England and the European Central Bank announced moves to boost the economy. They’re both falling in line behind Mr. Bernanke, who is “pulling out all the stops” in order to avoid a deep depression.
May 11th, 2009 | Bill Bonner | 1 comment | Continued