All the soothing assurances of government mean nothing. They only care about their own ends and we have to cope with the consequences
As markets meltdown around the world, it's timely to reflect on what I called the 'greatest investment risk in history'.
At the time, a number of people mocked that claim as they insisted 'this time is different' and that 'economics has changed'.
They were wrong and the catastrophic losses are only just beginning for one particular asset class.