Business

Die Hard Illusions

By Bill Bonner / The Daily Reckoning
This just in...Ben Bernanke and Tim Geithner have rushed to Los Angeles. If they can revive an entire world economy...why not the `King of Pop?' Fans are hopeful…but here at The Daily Reckoning we take a discouraging view of these revival efforts. We admire the achievements of science and technology; as for the works of economists and central bankers, well…we’ll wait to see how things turn out. Yesterday, we took up the biggest illusion of the Bubble Era. We held it up to the light…and noticed: So deeply rooted is this illusion that it will take more than a strong wind to uproot it.
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Posted by Editor at June 29, 2009 07:12 AM