People always say Follow the Money. You might do better to Follow the Risk. Risk is the pollution created by the process of making money. So where you find people making one you will surely find them hiding the other. You’ll find both at the banks. Banks have managed to convince the regulatory authorities – …
There is a particular scene in the film “It’s a wonderful life” in which the hero of the story is trying to prevent a run on the Bailey Savings and Loan. In an effort to calm the anxious savers wanting to withdraw their money George Bailey cries out “you’ve got it all wrong, the money’s …
Money makes our heads go round – Guest Post by Hawkeye Read More »
Just a note to say thank you for bearing with it all and for your support. But in your enthusiasm you shouldn’t click on the adverts repeatedly. Google monitor and look for people trying to game their adverts and will ban sites on which they see it occuring. A visit to an add now and …
All eyes seem to be glued to the US Presidential Elections, certainly those of our media are, when I think they should be looking at Greece. OK America is a more puissant nation but let’s say what most of us feel – it hardly matters who wins in America because, as am American comedian noted …
In part one of this series I suggested that the simple reason we were bailing out the banks and simultaneously cutting public spending was because, If the banks were to be wound up it is their [the wealthiest 10%’s] credit/debt backed ‘money and the assets held in it, which would burn to ash….So the simple reason our …
Why are we bailing out the banks? – Part Four – What happens now? Read More »
Government backed Deposit Insurance is like the rip cord on a parachute. It is the thing you know will save you if it all goes horribly wrong. As long as it is there you can pull it and the parachute will open saving you from otherwise certain death. The government guarantees your money if your …
Further to Saturday’s look at the FT’s careful shepherding of public opinion, the weekend provided another fine example of the same process but done so very subtly I suspect the perpetrator, The BBC’s Robert Peston, was not even aware he was doing it. My thanks to Phil for pointing it out and providing the link. …
So the latest news on the Swedish ship The Estelle which was sailing towards Gaza is that it has been boarded by Israeli military in international waters. The ship has been boarded, seized and the civilians on board have been arrested/detained/captured (depending on how you view the situation). The Ships’ communications (web connection) have been …
For the last few days most financial reporting on China has been like this article from the FT. Wen upbeat on China’s economy Wen Jiabao, China’s premier, has given his most optimistic assessment of the Chinese economy since the start of the year, saying that it had stabilised and that the government’s target of 7.5 …
At the end of part two I suggested that the mainstream justification for bailing out the banks, namely that by so doing we have provided them with the money they need in order to lead the rest of us to recovery by investing in the real economy – was what Goebbels and his boss would …
Why are we bailing out the banks? part three – Lies and Opposition Read More »
