Myths of the Global Recession

Why It Matters

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Michael Freedman

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Daniel Gross

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Stefan Theil

Featured Postings

One Countercyclical Business

1:33 PM, January 29, 2009 | Comments (0)

Spend a day or two here, and it seems that every business, in every sector, in every geographic area, is suffering. There seem to be no safe havens, and few truly countercyclical industries this time around. But I think I may have found one: white-collar...

Wall Street Bigshots: Conspicuous By Their Absence

7:59 PM, January 28, 2009 | Comments (0)

Depression Era Thrift Is Back In Style

5:06 PM, January 26, 2009 | Comments (0)

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Barrett Sheridan

Remember "decoupling"? It was the notion that emerging economies had detached themselves from the developed world, and that Asian consumers could make up for falling demand in the rich world. An Indian steelmaker would not only fail to sneeze at the first sign of a cold in the United States, but might even hold the key to a cure. So much for that theory—emerging market stocks have plummeted 52 percent in the past year, even further than the S&P's 40 percent nose dive. Decoupling was a powerful myth, but only one of many in this global recession. The crisis is moving so fast, and in so many different directions at once, that the shelf life of conventional wisdom is shrinking exponentially. Just a few weeks back, analysts were saying the worst had passed for the financial sector; today Citigroup is imploding. Throughout 2008, forecasters predicted the demise of the dollar. Now it's the euro and sterling that are falling. What's behind these and other recession myths, and why haven't they come to pass? To find out, follow this link.

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