Crise Financeira: Uma Interpretação

Esta interpretação é da Comissão de Investigação da Crise Financeira (Financial Crisis Inquiry Commission) do Congresso americano. Os membros da comissão encerram o documento da seguinte forma:

Reinhart and Rogoff also find that financial crises often precede sovereign debt crises, given the rapid increase in public debt. To this end, it is not by pure coincidence that our Commission was set up at roughly the same time as the National Commission on Fiscal Responsibility and Reform, which recently presented its report on the looming fiscal crisis in our country.
In their panoramic study of financial crises and the debt crises that follow, Reinhart and Rogoff identify perhaps the four most dangerous words expressed by investors, regulators, and policymakers before a crash: “This time is different.” We could not agree more. We caution our nation’s leaders to learn the appropriate lessons from history and take seriously the need to reduce our federal deficit.

O documento todo é muito claro e objetivo, provendo uma excelente introdução à crise financeira de 2007-2008. Gostaria de acreditar que o nosso Congresso consiga constituir comissões de mesmo nível.

Múltiplos de Zero

Do artigo de John Cogan e John Taylor no WSJ de hoje:

The economic data rolling in confirm that recent temporary, targeted stimulus programs have not worked, and that their enactment was a triumph of Keynesian wishful-thinking over practical experience.

Convergência: 200 Anos, 200 Países, 4 Minutos

Melhor visualização a respeito dos acontecimentos econômicos dos últimos duzentos anos. Adivinhe o que mudou? Surgiu um negócio chamado capitalismo.
(HT: Greg Mankiw)