Catastrophe averted?
The leaders of the rich countries went to Washington to save the world from sliding into deep recession. We asked key politicians, commentators and economists whether they succeeded and what we should expect, and hope for, in the coming weeks
Some weeks ago, in an editorial about the financial crisis in the main section of this paper, a writer commented
approvingly that: "Our currencies are no longer tied to gold, which means central banks can act to mitigate monetary deflation and interrupt the deadly feedback loop of mounting defaults, declining real wages and prices and increasingly onerous dollar-denominated debt. ...
Exploding Debt Dynamics, Part II: The Golden Supernova
What do avalanches, black holes and supernovas have in common with the fate of the dollar and gold?
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