Thorsten Polleit on "liquidity crises" (amv)

Here you find an outstanding (that is, Misesian) viewpoint on the recent financial turmoil (especially since the reaction of central banks all around the world and the subsequent jump in stock prices seem to have prevented us from any real impact of the subprime crisis). It is written by Thorsten Polleit, economist at Barclays Capital, Honorary Professor at the Frankfurt School of Finance & Management and member of the Shadow Council.