The radical left’s wet dream, or chaotic market logic? at izbrano

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The radical left’s wet dream, or chaotic market logic?

Independent - It’s the intellectual chaos that is the really frightening thing. Those who believe most fervently in the free market are the very people who hate most the spectacle of watching free-market favouring governments attempting to save it.

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Cost of crash: $2,800,000,000,000

Guardian - Autumn’s market mayhem has left the world’s financial institutions nursing losses of $2.8tn, the Bank of England said today, as it called for fundamental reform of the global banking system to prevent a repeat of turmoil “arguably” unprecedented since the outbreak of the first world war.

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Art’s too expensive, says Hirst

Independent - Just months after the success of a ground-breaking sale at Sotheby’s that brought him nearly £100m, Hirst has described the art market as over-priced, and welcomed the prospect of selling his work at cheaper rates in the present climate of recession.

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Fiscal policy is our most potent instrument

Financial Times - Fiscal policy, more than monetary policy, will determine how and when this crisis will be resolved. The best contribution central banks could make is to help the money markets. I still believe some explicit currency-zone level money market insurance scheme is the way to go. By all means, cut [...]

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