Monday October 26, 2020

We have ceded control to the penny-pushers

With the world’s financial system collapsing on the eve of the US election, Browne analyses how the crisis will affect the fragile Irish economy.

30th July, 2017
A man demonstrates outside the Lehman Brothers headquarters in New York after the bank filed for Chapter 11 protection Pic: AP

These are bewildering times. Nobody has any idea whether the world economy will collapse in a few days, weeks or months. Nobody seems to have a plan to save the world from looming disaster – and nothing tried so far has worked.

The debate between the US presidential candidates last Tuesday night seemed abstracted from the potential catastrophe. John McCain and Barack Obama addressed the issue as though it were merely another campaign debating point,...

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