Word: depressionitis
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Chances are you can't name a single central banker from the 1920s, but in their day, they were quite the celebrities, even giving false names when traveling by ocean liner in order to dodge the press. These were the men who - in the wake of WW I and the...
In fact, Major League Baseball is so confident of its staying power that it is launching its own 24/7 cable channel in the midst of the country's worst recession since the Great Depression. On Jan. 1, the league, looking to tap into fans' endless demand for stats, scores and...
Neither Borrower nor Lender Be As a person interested in reality, I much appreciated Michael Kinsley's Essay on the government stimulus package [Dec. 15]. The media regularly say the "taxpayer has been hit again." I don't recall my taxes being affected. Rather, we have borrowed again, and not...
No one disagrees that all these bailouts are giving the American taxpayer heartburn, but why are the automakers under such tight scrutiny when AIG quickly received about twice as much as the Big Three are asking for? In both cases, awful management created the need for a bailout, but suddenly...
It is true that the Great Depression of the 1930s was a crisis of liquidity. Stocks plunged, banks went under, and the value of assets disintegrated. Our current policies would have been appropriate in the Great Depression, but they are not appropriate now. Liquidity problems are not the source of...