The repo crisis — and it is a crisis — is telling us that liquidity providers are aware that the price of money, the assets used as collateral and the borrowers’ ability to repay are all artificially manipulated.
There seems to be an increasing consensus that a global recession is coming soon. The good news is that the Spanish private sector is much better prepared than it was in 2007.
It appears many Indians and Brazilians and Chinese are willing to risk the global warming for a chance at experiencing even a small piece of what wealthy first-world climate activists have been enjoying all their lives.
The crisis-ridden welfare states of South America show us that the fabled "third way" to economic prosperity is not quite the cure-all we're told it is.
