In 1992, a Swedish real estate bubble burst, creating a banking panic and freeze. The Swedish loaned banks money, but in exchange, forced banks to promptly write down bad real estate investments and issue warrants to the government. Warrants–the right to purchase stock at a preset price–gave the government bank stocks . . . → Read More: The Kotlikoff-Mehrling Plan: Better than the Paulson Bailout
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This crash is The Big One; it has signs of becoming a Category 5. How do we know? We’ve “been there and done that” so many times before, roughly every 18 years over the last 800 or more. Major wars and, rarely, plagues have broken the rhythm, along with the little ice age, . . . → Read More: The Great Crash of 2008, by Mason Gaffney |
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