Joseph Palermo: With new evidence mounting each day that the system is as broken as it was before the meltdown of September 2008 and will likely require another colossal taxpayer bailout at some point, the public might be able to compel even the isolated 1 percenters among Washington’s policy elite to take heed.
Why do economic downturns catch experts unawares? Even more intriguingly, why do they defy analysis after they’ve happened? Neither economists nor financiers can agree on why the world’s economies are in free fall today. More than 70 years later, there’s still no agreement on what caused the Great Depression. Not even in hindsight does consensus [...]