2008-01-22 To Some, the Widening Crisis Seems Driven by Fear, Not Facts

2008-01-22 \US economy\global economy http://www.nytimes.com/2008/01/22/business/22stox.html To Some, the Widening Crisis Seems Driven by Fear, Not Facts &ldquo;Mr. Yardeni warned, however, that in a time of panic and fear, less attention is paid to fundamentals, like a fairly tight United States job market and strong growth and the extraordinary buildup of foreign exchange reserves in emerging markets. The result is panic selling and the prospect of a global recession. â€œPeople are creating the financial violence that they hoped to avoid,â€ he said.&rdquo;   