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»MoreFinancial crisis? What financial crisis?
About a year has passed since the bankruptcy of Lehman Brothers and the collapse of AIG and Citigroup, and the situation on the financial markets could hardly be more different compared to the situation back then. Instead of plunging anew every day, equity prices have been rising almost unceasingly since March. Corporate bonds are no longer being sold off in a panic, as investors now are searching feverishly for any great deals they may have missed. Many commodities, especially gold, silver and crude oil, are flying high instead of sinking low. If it weren’t for the millions of additional unemployed, the gaping holes in public finances and record low interest rates, there would hardly be any superficial signs of the crisis ever having occurred. Many seem to have almost forgotten that the global financial system came right to the very brink of disaster, in what was from a historical perspective just a couple seconds ago.