Commentary on the economy, the markets, and business
CapitalistCast 2: Life in Davos is hard
Here goes. I know, I've got to work on the whole centering-my-face in the screen thing. I should add that Ned Phelps, whom I just met, is a very entertaining guy. Not that I really captured that (or tried to) in the video. But here's a little sample. George Soros has an opinion piece in today's FT headlined "The worst market crisis in 60 years." Phelps peered at it suspiciously, then said, "What is Soros referring to when he says 'the worst crisis in 60 years'? That was 1948."
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1948 required the Marshall Plan (first payment July 1947), the IBRD (first loan May 1947), and the IMF (finalised Dec 1945).
George Soros has a long, Hungarian memory. Ned Phelps is a Yank. Unless you want to quibble that he should have said "61."
Next easy question.
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