The mainstream financial media are running stories on the next financial crisis. This is unheard of two years into a so-called economic recovery. So weak is this recovery that the old pre-2008 confidence has not returned.
The first sign that “this time, it’s different,” was Treasury Secretary Geithner’s statement, which received widespread coverage, that there will be another crisis.
On May 18, The Daily Beast ran a story on Geithner’s unexpected appearance at the initial screening of an HBO movie, Too Big to Fail, which dramatizes the crisis of late 2008, during which time Geithner was president of the Federal Reserve Bank of New York. In an interview, Geithner said this. “It will come again. There will be another storm. But it’s not going to come for a while.”
(Read more from lewrockwell.com)