Grantham Sounds the All-Clear (Sort of) Bubbles in global profit margins, risk premiums, and U.S. and U.K. housing prices . . . have thoroughly burst and are in their overcorrection phase with the single exception of U.K. house prices, which I’m confident will do their duty. –Jeremy Grantham, “The Last Hurrah and Seven Lean Years“;...Read More
Posner: ‘Blame Regulators (& Economists)’ Let’s place the blame where it belongs. Not on the bankers, who are not responsible for assuring economic stability, but on the government officials who had that responsibility and failed to discharge it. They failed even to develop contingency plans to deal with what everyone knew could happen in a...Read More
