Stuff we’re reading that deserves a wider audience…
“The numbers were breathtaking. A single bank, Anglo Irish, which, two
years before, the Irish government had claimed was merely suffering from
a “liquidity problem,” faced losses of up to 34 billion euros. To get
some sense of how “34 billion euros” sounds to Irish ears, an American
thinking in dollars needs to multiply it by roughly one hundred: $3.4
trillion. And that was for a single bank. As the sum total of
loans made by Anglo Irish, most of it to Irish property developers, was
only 72 billion euros, the bank had lost nearly half of every dollar it
invested.” [see link nr. 3]
- Core and headline inflation, don’t mix them up, please..
- The banana at the center of the food debate
- Where is the rage in Ireland?
- Simon Johnson: Are the poor to blame for the financial crisis?
- What happened to innovation?
- Two US economies
- The Shale gas revolution
- The top ten accomplishments of the Egypt demonstrators
- Cameron’s Big Society idea loses momentum
- Android’s Honeycomb seems ready to give iPad a run for its money
“From 1947 to 1973, he wrote, “inflation-adjusted median income in the
United States more than doubled.” Since then, it has risen just 22
percent (and that small increase is largely the result of more members
of the household entering the workforce).” [see link nr.5]