Financial markets. Stars, cows and dogs; the movers, the shakers and the breakers; rants, comments and observations. Sincere and cynical irony.
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UK Financial Sector versus Manufacturing Sector: It's not a game you know
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The article, written by Jonathan Todd, and published on Saturday 12 June 2010, was titled "No need to choose between finance and manufacturing" with the argument "Broad-brush commitments to rebalance our economy are an incomplete response to our economic growth challenge". The following text was essentially my response.
Let’s be clear about this, the suggestion that a sector of a business should contribute a larger percent to the overall business does not, in any capitalist sense, mean necessarily that you will deliberately diminish the net contribution of other sectors, and even large...
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Greed, not speed, that killed the economy.
Was it speed or greed that killed the markets? The following was my response to one such claim that my argument that greed rather than speed was actually the main issue this time around:
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Fair Market Guesswork
If you work in the financial business, then you should know what Fair Market Value really means, and more importantly, what it does not mean.
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The Banking Brain Drain
I would have thought that some banks would be only to glad to get shot of the holders of the "intellectual capital" that have provided the "knowledge" driving and supporting the strategies and actions that lead to such a royally screwed up economy. .... Phew!
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Capitalistan
Before New Labour leave office, and in order to sanitise the financial markets, they could rebrand the City, I suggest a new name ...
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We Never Saw It Coming
Iceland is a miniscule economic guinea pig, the liberal media journos saw all of this coming, the orthodox economists didn't have a feckin clue, the bad economics commentariat (The Economist) are guilty, the OECD fiddled while Reykjavik burned, and it's all Brenda's fault.
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Financial Crisis and Subprime
Oh dear, whatever happened here? After years of over-borrowing and under-saving, the plentiful supply of cheap and easy money, the enthusiastic recklessness of a number of financial managers, and the complaisance of governments, the inevitable happened, and panic ensued.
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Short Termitis and the Bonus Culture
Short Termism is an accusation aimed at the financial institutions and is directed towards their short-term expectations of the companies that they finance; we know that, we have known that for years.