From: glevy@PRATT.EDU
Date: Fri Jun 22 2007 - 11:16:19 EDT
> I wish that, rather than raise doomsday scenarios based on flimsy > evidence, somebody would interview some international bankers who can > talk meaningfully and in a level-headed way about the quantitative > proportions of the structure of the global credit market. Hi Jurriaan: I wouldn't trust what international bankers (or economists working for banks) have to say about these questions since they have a stake in what happens and they know that what they say can impact investor expectations. Like state officials, they are "spin doctors". I have, instead, a simpler wish: I wish that those who make predictions about upcoming "meltdowns" simply indicate success and/or failure criteria so that we can agree that if a prediction does not come to be realized in the manner anticipated by a certain date, one has to reexamine the basic hypothesis. I make this wish because there are some who for over a decade have predicted the meltdown and it hasn't happened yet. > It doesn't necessarily have any specific consequence with regard to > the radicalisation of people. I agree completely! In solidarity, Jerry
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