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 …
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, …
Here’s a question for you. Why have we heard nothing in the media or parliament about A People’s or a Sovereign Debt Jubilee? Is it because a People’s Debt Jubilee is simply a nice but unworkable fantasy dreamt up by crackpot bloggers like me? This is what I have been wondering. And then in response to the …
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 …
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 »
This morning Europe woke up to find the Asian markets had all plunged. Japan down 1.5%, the Hang Seng down 2%, Shanghai smarting at 2.93% down and India down over 2% as well. European bourses promptly ran for the exits. London opened 1.7% down, Paris 2% down and Frankfurt down 1.8%. A second day of …
This wonderful image by Escher of two hands drawing each other is one of my favourite pieces of modern art. For me, it is a brilliant visualization of the idea of bootstrapping. Or to put it more loosely, how you get something from nothing. Evolution is an example. From something simple you can get something …
