Risk, Re-/Insurance and Future Thinking
From the category archives:
There’s an interesting post from Hellasious on Sudden Debt about the fundamental wrongs in the US economy (which shades over into general considerations on the American Way of Life).
His 3 facts are these:
Fact 1:
There is too much debt in the economy to be properly serviced by the
earned income generated. Total debt has doubled as a [...]
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From the always wonderful PJ O’Rourke comes this simple person’s take on how we got into this mess:
Brokerages were saying, “We’re going to sell you a room full of horse s–. And with that much horse s–, you just know there’s a pony in there somewhere.”
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I subscribe to a daily e-mail of interesting factual snippets from delanceyplace.com.
Today’s entry is from George Soros’ book, the The New Paradigm for Financial Markets (Public Affairs, Copyright 2008 by George Soros) and contains an interesting account of the roots of the sub-prime crisis, worth quoting in full:
>”The [real estate] crisis was slow in coming, [...]
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As news emerges that Merrill Lynch is posting a loss of almost $8bn for the latest quarter (which seems like rather a lot), my eye was caught by this lovely little throw-away snippet in the FT (subs. required):
>Robert Law, banks analyst at Lehman Brothers, said: “One of the biggest issues with the sector has been [...]
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