Simon & Schuster Speakers Bureau: Author News
More Mania in the Markets

Though stocks soared on news of a Eurozone deal, unfounded swings—from fear of collapse to fear of missing out on the upside—have been the norm for months, says Zachary Karabell.

Oct 31, 2011

The Daily Beast
By Zachary Karabell
Oct. 28, 2011

In yet another chapter in the manic saga of global markets, stocks soared Thursday around the world after European leaders announced yet another comprehensive plan to solve—once and for all?—the deepening sovereign-debt crisis. The outpouring of optimism was given an added boost by the release in the United States of third-quarter economic figures that indicated GDP increased 2.5 percent, and the icing on the proverbial cake was supplied by news that the Chinese government would potentially add some of its trillions in reserves to help shore up ailing European finances.

It seems like only a few days ago that we were feverishly murmuring about the impending implosion of the global system. That’s because it was only a few days ago. These swings from fear of complete collapse to fear of missing out on the upside have been the norm for the past months in market-land.

Read more