This is an excellent summary of the events, players and human behaviours leading up to the financial crisis that hit in 2007 and that we are still working our way through today. As we watch this series we should understand that this is not a crisis that is past, this is a crisis that the world is still struggling with and will be for a few more years. But we must be clear: the pain is not because the bubble burst, that was and is inevitable, the pain is because the world allowed it to balloon in the first place. Now it is up to all of us to admit and understand the errors so that we can learn and change our thinking, behaviour, laws and leaders. In this way all of this pain will not be in vain.
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Cory’s Chart Corner
Many will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
The Kobeissi Letter @KobeissiLetterBREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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Danielle’s Book
Media Reviews
“An explosive critique about the investment industry: provocative and well worth reading.”
Financial Post“Juggling Dynamite, #1 pick for best new books about money and markets.”
Money Sense“Park manages to not only explain finances well for the average person, she also manages to entertain and educate while cutting through the clutter of information she knows every investor faces.”
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Bleeding the Patient, Modern Economics and the Symbolic Economy
http://www.oftwominds.com/blogsept11/bleeding-science-Fed9-11.html