The Great Global Contagion and Recession was largely the result ofa sustained global savings glut combined with excessive monetaryaccommodation by the Federal Reserve and other central banks. Thesetwo complementary and reinforcing forces artificially depressed theprice of risk globally, leading to the widespread mis-pricing ofassets and misallocation of investment. These effects were enhancedby rapid financial innovation and breathtaking arrogance of leadingfinancial market participants in believing that they understoodthese innovations.
Our rambunctious daily links, including Covid, climate change, liars, loopholes, PLA prepares for blockade, WeWork for the 0.1%, monkeypox, Dover queues, Amnesty calls out Ukraine, more military pork
USDA data shows the number of farms continues a slow decline, and the National Pork Producers Council applauds SCOTUS brief regarding California s Proposition 12.