Blog
The Great Unravelling
10th October 2008
Paul Krugman in today’s New York Times
“We have a globalized financial system in which a crisis that began with a bubble in Florida condos and California McMansions has caused monetary catastrophe in Iceland. We’re all in this together, and need a shared solution.”
His article is the clearest bit of journalism that I have read in a very long time. He praises the British Government’s strategy of directly injecting fresh capital into the banking system in return for a share of their equity (so called part nationalisation).
The rest of the article is here
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.