Author: Yuri Tricys  Oct 26, 2008  |    newsroom, opinion
Was it Warren Buffet who reminded us of the irrationality in the stock market? What was it he said, stock markets are people driven and people are irrational? I'd like to add the movements of populist governments to his irrational people bit as, it seems to me, both populist governments and stock markets are guided by public opinion. If public opinion is an expression of human behavior, (run that one by your local shrink if you like,) does that make it the result of feelings, instincts, and herd-like responses to media induced perceptions (not a herd of hippo's mind you, that's the U.
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Author: Yuri Tricys  Oct 24, 2008  |    newsroom, opinion
So world leaders (note: 20 of them) have agreed to come together in a first ever meeting of the G20 to discuss a restructuring of global financial market systems. Finally, economic and politically minded people everywhere are revisiting the decisions that have shaped our global economy into the fertile soil for crisis that it has become. Milton Friedman's legacy is under attack. The concepts of nationalism and socialism in the state are not only being reconsidered, they are being re-instituted as we speak (the nationalization of big banks globally).
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Author: Yuri Tricys  Oct 22, 2008  |    macroeconomics, newsroom, opinion, stock market
It doesn't take a rocket scientist to see that addressing the liquidity problem on Wall Street by borrowing to restore the ability to lend does not address the underlying aggregate debt issue. The common sense approach says that to avoid a sudden crash or some kind of long drawn out debt deflation, the American Government needs to address the ability of the real economy to earn, borrow and spend. And in this sense yes, much of the relief could have gone to debtors at large and not the creditors, who to pay their new debts will have to lend more.
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