Casaubon’s Book: Peeling the Onion: What’s Behind the Financial Mess?
Casaubon’s Book » Blog Archive » Peeling the Onion: What’s Behind the Financial Mess?
If you want a pat answer to what has caused the financial crisis that is reverbating around the world, and now threatening the derivatives market, we’ve got one. Nearly everyone - in the mainstream media and outside it, tells the same story - that the crisis was caused by the unravelling of the housing market, particularly the US housing market. And if you ask what’s behind that, well, we’re told there was a bubble. And if you ask what was behind the bursting of the bubble, well…it is turtles all the way down.
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