CIAO DATE: 05/2009
February 2009
American Enterprise Institute for Public Policy Research
The global financial and economic crisis that emerged in August 2007 has entered a dismaying fourth phase. The January 17-18, 2009, weekend edition of the Financial Times, which has been a major chronicler of the crisis and its many aspects, laid out a frightening timeline of an accelerating and intensifying oscillatory cycle of crisis and failed policy response that started just fifteen months ago.[1] Each phase begins with a shock and ends with a seemingly decisive policy measure meant to contain or "fix" the crisis. Each phase is shorter than the previous one and culminates in a much larger policy response.
Resource link: The Crisis and Fix Cycle [PDF] - 97K