Are the Markets Underestimating a Coronavirus Depression?

Posted on AllSides April 3rd, 2020
From The Center
ANALYSIS

One of the most enduring images to come out of the last financial crisis more than a decade ago was that of former Federal Reserve Chairman Alan Greenspan—once seen as the “maestro” of markets—expressing his “shocked disbelief” that Wall Street had blown itself up. How could people so smart act against their own “self-interest” and get things so wrong? Greenspan wondered aloud during testimony to Congress in the fall of 2008. “The whole intellectual edifice,” he famously said, had “collapsed.”

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https://foreignpolicy.com/2020/04/03/markets-underestimating-coronavirus-depression-economic-impact-pandemic-financial-crisis/

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