Year: 2011

Tensions in Greece are reaching melting point. And the debate is a clear and straightforward one. What we are witnessing is a propaganda battle between the forces calling for Austerity and those (perhaps indirectly) proposing Default. Those calling for Austerity claim lazy workers, socialism and corrupt politicians created a dire fiscal problem that Greece must …

Guest Post by Hawkeye – Irresponsible borrowing and irresponsible lending Read More »

What is meant by this phrase “orderly default” which is all over the news this morning? It sounds so sensible. I think it is another entry in the liars lexicon. When the banks and pundits say orderly, they mean orderly for the banks. Not orderly for Greece or the Greeks or the Portuguese or Irish.  …

"Orderly Default" – Liars lexicon Read More »

Twenty thousand Greek citizens gathered outside the Greek parliament on Wednesday to protest against their government’s attempt to force through another round of even more severe austerity measures dictated by the EU and the IMF. Inside the Parliament, two government deputies defected from the government saying they would not vote for the measures. It is …

Greece – It’s all about bailing out French and German Banks Read More »

In today’s news we are hearing that George Osborne is endorsing the UK’s Independent Commission on Banking (ICB) interim recommendations for ring-fencing Retail & Investment Banking. This is being couched as a tentative step towards the re-instatement of Glass-Steagal type separation of banking practices. On Radio 4’s Today programme Robert Peston declared the move one …

Guest Blog by Hawkeye – Potemkin Firewalls Read More »

The Debt Generation is now available as an ebook at £.4.94 (including VAT) The Epub version can be bought from the distributor’s online store: Here The Kindle version is available on these pages at Amazon.co.uk, Amazon.com and Amazon.de

Vince Cable said some interesting things at the HowTheLightGetsIn festival. He said, George Osborne now wants to lower UK corporate Tax to be the lowest in Europe, by 2015 I think he said.  In other words Osborne wants the UK to take over from Ireland as the country where global corporations shift all their profits …

Vince Cable says Osborne’s policies are "Beggar thy Neighbour" economics Read More »

A study by Boston Consulting Group on global wealth and who has it, reported by Bloomberg, under the headline “World’s Wealthy Rose by 12% on Market Gains”. And there you have it, the truth of the last year encapsulated in 8 words. According to Peter Damisch, head of the firm’s wealth-management practice in Zurich, “Wealth became more concentrated, …

The Wealthiest get wealthier Read More »

A recent article on ZeroHedge is all outraged at the news that the US government is going to act as guarantor for a 1 billion eurodollar bond issuance by Egypt.  The article asks, “Uh, should Congress perhaps have something to say about the fact that America is now somehow the guarantor of recently revolutionary African …

More food riots and uprisings on the way Read More »

For those of you were interested in reading a little more about the world of Tax evasion, corruption and off-shore financial fraud this is a link to a very good article by Nicholas Shaxson, author of Treasure Islands, which he sent me this morning. As you will see it delves further into the dirty link …

More on China and The Caymans and British Virgin Islands Read More »