In Europe, It’s 2008 All Over Again
June 06, 2012 at 07:52 AM EDT
Investors clamored last week to lend money to the German government for two years at no interest. Some investors accepted negative yields – meaning they gave Berlin a cut of their assets merely in exchange for their safekeeping. If not yet indicative of an out-and-out panic, it is at least a sign of economic hopelessness. [...]