[cheerfulgreek]

Originally Posted by exlurker

Crisis of confidence in U.S. financial markets? (Bear Stearns, Fed, Morgan and others)

Scary times indeed:

http://www.nytimes.com/2008/03/17/bu...17econ.html?hp

Great article. I'm not surprised. I remember in 2001 we recovered from a world recession, but I think it's different now, because back then the U.S. Federal Reserve, European Central Bank and the Bank of Japan all cut interest rates to virtually almost 0. I think it's far different now because the ability of Central Banks to use monetary tools to stimulate their economies and lessen the effect of a global slowdown is far more limited than it was in the past. It just seems like they're not a free as they once were, because now, it's like they're constrained by higher levels of inflation.