"This is the Subprime Crisis, Brian?"

The wonderful thing about this sketch is that it actually describes the credit crunch pretty well. So, of course, does William Pfaff:

The collapse of this house of cards is a crisis of speculation, not of the real economy, and an appalling demonstration of market inefficiency. The imaginative might say that it has all been a version of the 19th century carnival swindle called Bunkum, but one in which those who conducted the game have ended up among the swindled.

     posted 21 March 2008 by Michael Scott Moore