On a discussion forum I participate in, the question arose, “if the media blamed the bailout not being passed for the stock plummet that followed, why did it plummet again after the bill was passed?” The wealth the markets are losing never existed to begin with: All the wildly swinging ups and downs in the […]

There’s no doubt the global economy is undergoing significant changes with far-reaching, unknown consequences.¬† Tens of trillions of dollars of fictitious wealth will need to vanish from the books of financial institutions around the world before stability can return to banking and international trade. The panic, hysteria and hyperbole in the media are reducing the […]