econgestalt

The late Dr. Rudiger Dornbusch was an economist at the Massachussets Institute of Technology and was often the cause of headlines for his rather outspoken views on crises in emerging markets, especially as they related to currency exchange rate movements. He was almost alone in predicting the Mexican Peso crisis of 1994 and that too just weeks before the Peso collapsed. Now, I admit to being no better aware of his work today as I was then. But there was a moment of insight when I came upon this quote attributed to him

“A Crisis takes a much longer time coming than you think and then it happens much faster than you would have thought”

That was an “a-ha!” moment and hardly would it have been one if not for the fact that I’d just come out of a 2 hour session reading up on the phenomenal slump in global…

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