It is time to look ahead. Not because there isn’t quite enough going wrong right now to occupy us all, but because I am tired of being taken by surprise. It is time to stop reacting to events and at least try to guess what consequences are going to unfold from what has already happened …
Are we all in this together? Well only in the sense that in a drive-by shooting the killer, victim and gun are all in it together – just on different ends of it. Same with our recovery. We’re all in it, but one man’s efficiency saving, is another’s unemployment. Eurostat, the European agency which gathers …
This is going to be an interesting week. The Irish are now openly saying they want to make the Senior bond holders take some of the bank losses. That is most definitely not in the European Financial Class’s game plan. Neither France nor Germany nor the UK will like the sound of it. Because for …
The Nuclear and the Financial industries are both supposed to be carefully regulated. Their potential for causing systemic and widespread harm was supposed to be reflected in the fact that they both have not only ‘powerful’ national regulators but also international ones as well. The shoe industry doesn’t have its own regulator with its own …
There are reports of another oil spill in the Gulf just off the Louisiana coast about twenty miles from the site of BP’s ClearWater Horizon rig. The spill is said to have originated from W&T Offshore’s Matterhorn SeaStar rig. Another deep water rig. So far the details come largely from this article from the Tallashassi Environmental …
Japan is now facing two melt downs. Nuclear and market/yen. Or perhaps it would be more accurate to say it is facing one and causing the other. The news from the reactors at Fukushima is contradictory and would be comic if it wasn’t horrific. What we do know is that the French are advising their …
Events in Japan and the Middle East will now, I think, slowly start to combine. Japan has lost the output from a large number of reactors. One of her largest, one of the largest reactors in the world, in fact. Japan has lost a great deal of power generating capacity, about 9.7 gigawatts, from closed …
Japan, the Middle East and European debt – storm fronts combining Read More »
While the world watches the fine results of building nuclear reactors almost upon a fault line, in one of the world’s seismically most active areas, but not thinking it necessary to build them to withstand the most severe event – while we all absorb the wisdom and forethought of that – events in Bahrain are …
A day ago the japanese stock market dropped by 6%. Last night, our time, it plunged by a further 10%. Today Europe’s markets are droping like stones. London at the time of writing (10 am) has fallen 3% just this morning, Paris 4%, Frankfurt 5%. Unlike the fall out from their reactors which may stay …
In the last two posts I have argued that debt has surpassed the importance of wages in increasing the flow of money and of driving first inflation and then, in the bust, deflation in those things traded and held in debt – such as property. In this post I just want to make a fairly …
