Saturday, January 6, 2007
The Next Finanical Meltdown
This is an article pointing back to the past for a possible template as to how a terrorist act might affect the financial markets. It has been obvious to me for a long time that the financial markets are under estimating the possibility of a nasty terrorist attack. Here's some evidence demonstrating how this happened on the eve of WW I.
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Oddly enough I actually read Niall Ferguson's article earlier this week in Time. I usually don't read Time, but I came accross a copy (in my bathroom!) and noticed Ferguson's article. I too found his idea of a terrorist attack crippling the worlds financial system to be not only plausible, but also dangerously relevant in an age when many people seem to overestimate the resiliency of financial systema.
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