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What Happens When No One Trusts Their Own Currency?
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What Happens When No One Trusts Their Own Currency?
The Russians are suffering from the Economic Depression as well. However, the people are keenly aware of the problems associated with a devalued currency.
Efficient Market Theory and Regulators One Year After the Crisis CommencedEugene Fama, a Chicago economist with enough intellect to power the underground, published a seminal paper in the 1970’s on the efficient market theory. In one sentence it can be summed up as: “Prices in financial markets reflect all the known information.” In other words, gather all the information available, all the potential for positive and negative, plug it into the “free market” and bang – one measure is produced, the price. Nothing is better at doing this than the “market” – the market is “perfect”.