Monday, September 15, 2008

Of Wall Street and Mustard Seeds

From Bruce Herman’s new blog, Question Autonomy:
“The New York Times headline this morning—‘Two Wall Street Banks Falter’—reveals growing fissures in the brittle global economy. European markets foundered and the Asian markets will undoubtedly follow suit when they reopen after holidays. All this reminds us that the security we derive from investment portfolios and retirement accounts is illusory. That much is clear—and clearer every day that passes in this roller-coaster young century. Add to this Alan Greenspan’s pronouncement yesterday that this is a singularly dire situation—a ‘once-in-a-century’ fiscal event. No comfort there.” Read more...

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