Monday, 06 October 2008
The Times
No one can yet know when the world economy will reach its low point and begin what may be a long climb to recovery. In the past week we have seen a couple of political events that have already proved not to be turning points: the summit meeting in Paris and the passage of the Paulson plan through Congress. These were no more than village halts on the railroad to depression. However, we do know when the last global banking crisis was turned round, when confidence started to recover. Indeed, the Great Depression has precise dates for its beginning, which was the Wall Street panic on October 24,...
Democratic presidential hopeful, Sen. Barack Obama, D-Ill., speaks during a rally at the Montana State University in Bozeman, Mont., Monday, May 19, 200
photo: AP / Chris Carlson