Monty Gray

McKinsey: What Matters: Getting history right

I agree that a Great Depression is much less likely today than in the post World War period. This article does a good job of describing the political drivers of the Great Depression. While today’s recession is not so much politically driven, we still face a wide ranging failure of financial instruments independent of any single economic driver (i.e. Word War). As such, the main question is what adjustments can now be made to still maintain an appropriate balance between interconnectiveness and national autonomy. This could very well result in a new world of predominately national banks (we are already seeing this) and a stronger IMF & World Bank.

1 year ago

April 1, 2009

economy

BlogArt: The American Economy…

1 year ago

March 17, 2009

economy

Dow below 7000 for the first time since 1997.

1 year ago

March 3, 2009

economy

Perhaps the best analogy, and one that Washington will understand, is Social Security. Everybody in Congress and the White House has known for years that it’s a ticking time bomb, thanks to actuarial trends and inadequate funding. But when President George W. Bush tried to reform the system early in his second term, he was handed a crippling defeat.

— Paul Ingrassia Says Taxpayers Shouldn’t Have to Subsidize GM’s Deal With the UAW - WSJ.com