Readers may know Mikhail Gorbachev as a fellow who advertises Louis Vuitton luggage. But before he made it big as a mannequin, he was the top man in the Soviet Union. It was not an easy job.
November 16th, 2009 | Bill Bonner | 6 comments | ContinuedAll Posts Tagged With: "Gorbachev"
Can Governments and Central Banks Prevent More Credit Writedowns?
Are we changing our tune, then, about what to expect from markets? Not one bit. But the question now is timing. The collapse of 2008 was so severe because of the sudden reduction in leverage in the financial sector. As assets fell in value, the most highly leveraged firms (or lenders who raised money by selling debt) went out of business.
October 12th, 2009 | Dan Denning | 34 comments | Continued
HOORAH FOR CAPITALISM!
What is wrong with these people? Do they never learn anything? ‘Capitalism has failed,’ they say. ‘We need government to fix the problems…’ The rich hate capitalism because it threatens to take away their money. The poor hate it because they think it keeps them from getting any money in the first place. And everywhere you look, the chiselers are offering bailouts, boondoggles and bamboozles.
March 2nd, 2009 | Bill Bonner | 5 comments | Continued
