Lies, Damned Lies And Economic Statistics
This morning I spotted a story on the BBC website about jobless statistics in the United States. You might recall that unemployment in the US hit 10% a few months ago.
Well the story explains a little of the real numbers. As we must all have - at a minimum - suspected by now, governments have [...]
No ‘Green Shoots’ Of Recovery In A Desert
It seems that the ‘Green shoots’ of a financial recovery that the world has been prepared for by multiple hundreds of desparate politicians and economists has been dealt a severe blow.
Why?
Dubai.
All this time, we have been witnessing the economic miracle that is / was Dubai in awe and respect. But hey, it seems that they [...]
The United Kingdom: A Land Of Confusion
Is it any surprise that the UK economy is lurching from problem to problem when there seems to be such little agreement from the controlling politicians and money managers as to what is actually happening?
The last few days have been a great example of just how mixed up things really are - and how little [...]
2016: The End Of This Recession?
The more I read in the financial news, the more I find myself amazed that the press - because of politicians in the main - are talking about the first ‘green shoots of recovery’.
Across most of the coroporate world, earnings are collapsing, banks still are reluctant to lend and firms are heading towards bankruptcy. [...]
Lithuania Slumps
This blog recently highlighted the trouble being faced by Latvia in this economic crisis. We all knew that Latvia was not the only country suffering and not the only Baltic country suffering. But todays news suggests that Lithuania is in even deeper trouble.
Poor Lithuania…
This story explains that the Lithuanian economy has falled by a thumping [...]
Is Latvia Heading For Shock Therapy?
Today’s European Voice (11/06/09) had a story suggesting that Latvia is in for shock therapy. This did not seem to be as seriously regarded in the paper as might be justified.
In 2007, Canadian journalist Naomi Klein published “The Shock Doctrine: The Rise Of Disaster Capitalism”. In this extraordinary book, Klein argues that the influence of [...]
The UK Economy: An Accountant’s View
Speaking to an accountant is always interesting. Firstly, you are hoping that they can save you some tax money - any savings are more than interesting!! Secondly, they have real insight into the workings of businesses in a way that a stock market or finance column (or blog!) does not.
My own accountant is owner of [...]
Paul Krugman Speaks About Food Security And The Depression
In yesterdays post, I wrote about Paul Krugman and his thoughts at FFA 2009 in Biblioteque Solvay, Brussels.
This interview is well worth watching for his brief discussion about finance. Note that most politicians discuss the recession and how we may be out of it in 2010. Instead, Paul Krugman calls it the “Mother of all [...]
Too Much Borrowed Money - Puerto Rico Is ‘Bust’
It had to happen. Iceland couldn’t be the only government to ‘go under’ during this financial crisis.
This is one of the problems with a global recession, it is very hard to guess what is actually at risk. It could be everything, or it could be nothing.
Either way, the impact of too much borrowed money is [...]
The American Banking Sector Is On Life Support
The CNN story here
shows just what a mess the banking sector is in. The sad thing is that the list of 250 banks ‘in trouble’ is only in the USA. When I clicked on the link, I was rather hoping that it was a global list. Perhaps it was less hope and more blind optimism. [...]