Banking With Fools

It must be said as a proof to the political acumen of FDR after the Great Depression, the United States had 40 years of economic growth,without a single financial crisis. The financial industry was tightly regulated. Most regular banks were local businesses, and they were prohibited from speculating with depositors’ savings. Investment banks, which handled [...]

Read Full Post »

Where has the money gone?

I have on hand a report where 52 economists have put the chances of falling back into a recession in the next year at one in four. The same Wall Street Journal had come with a one in three chance foreseen by the same group in September. America is biting the bullet and hoping the [...]

Read Full Post »

Greek Economic Crisis- an overview

Greece is a developed country, with a high standard of living and “very high” Human Development Index, ranking 22nd in the world in 2010, and 22nd on The Economist’s 2005 worldwide quality-of-life index. According to Eurostat data, GDP per inhabitant in purchasing power standards (PPS) stood at 94 per cent of the EU average in [...]

Read Full Post »

Spot The Difference: Iceland and Ireland

A welfare state is founded on the principle that the state plows back some of its accumulated strengths from the combined force of its people.It takes the form of services and also financial help on the assumption that in any society some 15% are likely to go under and consequently may drag the rest with [...]

Read Full Post »

Only Mediocre Need Apply

I have a son who is a genius. The day Chuck was born I knew it for a fact. Didn’t he say, simplex munditis at 10 months? The first phrase he ever spoke was not in mother tongue as though he sensed he was making history of sorts. The occasion was simple though. He lay [...]

Read Full Post »

Enron Scandal

Smartest Crooks Know Law is on Their Side Enron scandal did not happen by itself. It was made to happen by some crooks with lots of help from other agencies. For example Arthur Andersen one of the largest audit and accountancy partnership went out of business by playing along. Where did Enron get such a [...]

Read Full Post »

Economics for Dummies

In recognizing a person there are certain features of the person that is peculiar to the person. Gait recognition is as unique as his voice. A person’s finger print or blood group adds to his individual characteristic. Visual clues we rely for such recognition one may say is basic for a appreciating caricature. In the [...]

Read Full Post »

Fall of CitiCorp

Economics for Dummies In trying to understand the economic meltdown of 2008 what we need to accept is a simple truth no single cause shall ever be found(1). Scholarly hairsplitting on the Great Depression of 1929 has not yet settled what caused it.The school of Milton Friedman and of Joseph Maynard Keynes have their adherents [...]

Read Full Post »

Tiger by the Tail

Economists think many of the 8.4 million jobs lost during the recession are gone for good. Ordinary Americans one fine morning got up from their beds and found reality was a nightmare. Their American dream always were in technicolor but incompatible with those who made their home with one dollar a day. American workers now [...]

Read Full Post »