Translate

miércoles, 11 de julio de 2012

How low can interest rates go? How high can they go? In both directions, more than people think.


The Federal Reserve: The Biggest Systemic Risk of All





The last fifteen years of finance has brought us three main surprises-three huge bubbles and their subsequent collapses: the tech stock bubble; the U.S. housing bubble (plus notable housing bubbles in Great Britain, Spain and Ireland); and the now-collapsing European government debt bubble.
Such financial adventures do not mean the people involved were just stupid. On the contrary, some of the very smartest private and government actors contributed to the systemic interactions which created the bubbles. These included, among others, the central bankers.

No hay comentarios:

Publicar un comentario