A good perspective from Robert Skidelsky. He writes well. His language is a bit religious for me, but the analysis is all too accurate. Here’s the link to his website and the article is copied below. In our view, we are now confronting the limit to the growth of humanity he concludes with. Morals and …
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Category:3 The World of Money
First banks, now automakers to be bailed out – America or socialism?
The US administration is negotiating over a $ 25 billion bail out of the US auto industry. This is an oligopoly that has refused to adapt to the market, failing to develop alternative fuel solutions, improve efficiencies or educate consumers. Chrysler, Ford and GM may be bailed out, to avert massive job losses, though it …
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You know it’s bad when luxuries are discounted.
So a case of Chateau Lafite Rothschild has dropped by 25% in the past few months. It’s still too expensive. But that drop is a sign that even the rich are beginning to care about the cost of living. If we see art prices coming off then we’ll know for sure that the fluff is …
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Swimming in dwindling waters – Ethical Corp
Water resources: Efficiency and conservation – Swimming in dwindling waters As the planet’s once plentiful blue resource gets used up, companies are acting to secure supply and be more efficient users of water by Oliver Balch, Ethical Corp Kazakhstan’s mapmakers have their work cut out. No sooner do they chart the boundaries of the Aral …
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Financial Crisis – Background, Outlook and Action
Our presentation reviewing the financial crisis has been updated. There is a little more data and a more extensive list of action items for consumers, investors and businesses. Self-help action is focussed on small and medium sized businesses. SME’s are going to bear the brunt of the downturn and be the most important factor in …
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Helping us get real – the IMF owns up to the recession
The IMF has issued revised forecasts for Advanced Economies’ output in 2009. They have revised their forecast from 0.5% growth (made a month ago) to 0.3% shrinkage. They forecast US output change of -0.7%, EU change of -0.5% and Japan change of -0.3%. (Emerging market and developing economies still to grow at 5.1%.) Admitting that …
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Financial crisis – lessons from the past
A useful review of historical financial crises by the BBC. Here are some extracts worth pondering; 1929 though, was only the beginning of a bear market that went on for some three years before the Dow bottomed out, 90% below its peak. During that time there were no less than seven rallies: the longest went …
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World in crisis …
We may be feeling the financial crisis, but the destruction of our planet is of greater concern. Thanks to Kevin Kallaugher of The Economist for showing us the reality:
US interest rates – how low can you go
Well not much lower. US interest rates were cut from 1.5% to 1.0% today. Soon they’ll be emulating Japan’s interest rate environment – hovering around 0.5%. And Japan’s economic reputation for the past decade or so has not been good. As we’ve said before, the interest rate level is not the problem. This reduction may …
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IMF handouts – first come, first served
Better get in line soon. The IMF is doling out cash fast to prop up economies whose banking system is close to collapse. Of course it would be an embarrassment for the US to go cap in hand but don’t rule it out. It reminds me of the Asian Banking Crisis of the late 1990s, …
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