What Tony Dye did not understand was politics. Every time he was certain that the crash must come, Alan Greenspan (and the mini me versions of him in charge of such institutions as the Bank of England) would just create more money to keep the credit boom going.
"But if he does that it will just make the crash worse when it does finally come" seemed to be Tony Dye's position, and he was right.
Monday, March 17, 2008
Sell ! Sell ! Sell !
Samizdata on the death of Tony "Dr Doom" Dye.