28 Jun 2002 The Fever and the Thermometer
Posted at 13:47h in The Friday BriefAs a thermometer, the stock market notifies us of serious problems in our world. It provides an up-to-the-moment measure of the sum of all investors’ views of the financial world’s present condition as well as its near-term future prospects. But, the market is no more to blame for our woes than the thermometer is to blame for the fever. The market has told us for some time that our illnesses go deeper than a hangover after the ‘party’ of the late nineties. Indeed, we have discovered serious diseases in our world and our capitalistic institutions that require attention.