Thursday, October 9, 2008

New World Order

This article will likely not be here long, so take a look because it is a great example of the astuteness of this publication's perspective on finance and economics.

2 comments:

Phreelosophy said...

Interesting article. I'll add a couple more cents:
1. Insane that Iceland, as in the entire country, is on the brink of bankruptcy, especially when you consider their reputed high standard of living.
2. I keep hearing about the credit default swaps impending doom, of which AIG is a good example. This American Life had a great show on it recently (you can check it out on their site). I would say that this would represent the most glaring example on the lack of regulation.

iurodivii said...

The swaps were being taught to us in the Masters level Finance classes as the cutting edge.

It cuts deep.

Iceland will not be able to pull themselves out. They will require outside help. And this is a flipside of that high level of living...all the risk taken with their banking assets.