Much wailing in the world financial markets these last two weeks, reeling under collapsing hedge funds packed with bad real estate loans, which spilled into other paper markets.
Investors scream for the Fed to bail them out, but whoops, it was the Fed that got them into trouble in the first place. Ah but SOS listeners were not taken by surprise. We’ve been warning for some time that “she was going to blow” despite happy happy talk on CNBC and record DOW levels at the beginning of summer.
John’s boralogue frames the liquidity crisis in simple terms. Then we rebroadcast an October 21, 1994 interview with G. Edward Griffin entitled, “The Creature from Jekyll Island,” a discussion as fresh and relevant today as it was 13 years ago.
Warning: The current crisis is just a squall line preceding the perfect financial storm, still probably about 24-48 months out. Ladies and gentlemen, the captain asks you to keep your seat belts securely fastened; it’s not over yet.
Speaking of squalls, hurricane season is spawning storms again but what about spawning new thoughts about disaster preparation? Well, shucks, it doesn’t seem so. Bill Evans is chief meteorologist for WABC-TV in New York and his latest novel, “Category 7,” provides a scenario for people to take emergency preparation seriously, wherever you live and whatever the disaster could be. It’s a fun and spirited conversation with a serious purpose.