Investing gauges are broken, market signals are mixed: What exactly is the “new normal”?
September 30, 2009 · Filed Under Uncategorized · Comment
Well-intentioned people can disagree over the Great Recession’s place in history. In one important sense, though, the chaos of the past 18 months has been unprecedented. It has shattered deeply held beliefs about the basic functioning of the stock and bond markets and left the best minds in finance—to say nothing of ordinary people—grasping for explanations.