It seems not a day goes by that we are not hearing of some new "alphabet soup" (EFSF, ESM, EU, ECB, IMF...) of entities that are having a "summit" on how to bailout Greece, or Spain, or Italy, and so on. So much has been made of this fiasco and yet it is really not all that complicated.
For years the European welfare state, present in just...
Monday, June 04, 2012
Is the world economy heading for another "Lehman Brothers moment"?
The markets have been reacting to widespread unease over Europe's economic woes, and the oft-repeated concern that the "debt crisis" there will spark another "Lehman Brothers moment," initiating a new 2008-style calamity that will engulf the US and bring on another recession (or worse). Meanwhile, every economic report...
