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January Market Crash — This was just a prelude to the Global Crisis of 2009
A couple of days ago, Asian and European stock markets experienced their biggest multi-day declines since April 1990. Tokyo, Bombay, Hong Kong, Frankfurt, London… all lost five, seven, even 8% and billions of dollars in valuation within a few hours of trading.
Pundits were quick to attribute the drops to recession fears — not just for the U.S. but for the global economy.
The declines prompted helter-skelter reaction from the Fed, with a whopper of a rate cut. Which in turn hit the dollar hard and sent gold back up.
Now, here is a question: Over the past year, central bankers, newsletter editors…
30Jan2008 | J. Christoph Amberger | Comments Off | Continued
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