07 01 2009
Saving capitalism from itself (1): The impending recession and why it will be difficult to avoid
Written by Thorbjorn Waagstein
The global imbalances and the bubbles in the credit and housing markets that have been building up during the last decade have been noticed by many, and many had predicted that this would not be viable in the medium to long term. But as it often happens, the way this lack of viability expressed itself came as a surprise for almost everybody.