Quiet Panic « Jon Taplin’s Blog
2008/01/23/1232RTFA: http://jtaplin.wordpress.com/2008/01/23/quiet-pani…
The tale of a working holiday for both Paulson and Bernanke on MLK Day cannot mask the quiet panic that is going on in Washington. It has been dawning on both men over the last ten days that the credit crisis could be the start of the “Mega-catastrophic risk” Warren Buffett described four years ago. We have pointed you since we started this blog towards the research of Professor Nouriel Roubini of NYU. Here is a bit of a speech he gave this morning in Davos at the World Economic Forum.
What is the measure of value in 2008? Good will? Petroleum? Intellectual Property? Gold? Land? Social Connections? Liberty?
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