Financial Times FT.com

Why the global financial turmoil is like an elephant in a dark room

By Martin Wolf

Published: January 22 2008 20:02 | Last updated: January 22 2008 20:02

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“I was gradually coming to believe that the US economy’s greatest strength was its resiliency – its ability to absorb disruptions and recover, often in ways and at a pace you’d never be able to predict, much less dictate.” Alan Greenspan, ‘The Age of Turbulence’.

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