Bret Swanson - Maximum Entropy » wesbury http://www.bretswanson.com tech, econ, Web, China, stocks, Fed, energy, IP, Moore, bandwidth, exaflood Tue, 07 Feb 2012 16:31:27 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 The Crucial But Unknown Cause http://www.bretswanson.com/index.php/2010/02/the-crucial-but-unknown-cause/ http://www.bretswanson.com/index.php/2010/02/the-crucial-but-unknown-cause/#comments Wed, 17 Feb 2010 16:55:26 +0000 admin http://www.bretswanson.com/?p=1545 Among all the books, articles, and academic papers analyzing the financial meltdown, very few have pinpointed and exposed what I think was the accelerant that turned a problem into an all-out panic: namely, the zealous application of mark-to-market accounting beginning in the autumn of 2007. In this video, two of these very few — Brian Wesbury and Steve Forbes — discuss the meltdown, mark-to-market’s crucial role, and the stock market’s short and mid-term prospects. Wesbury and Forbes have also written two great books explaining the Great Panic, why it’s not as bad as you think, and how capitalism will save us.

Holman Jenkins today also picks up the theme of mark-to-market’s central role in the panic.

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