tag:blogger.com,1999:blog-22403989.post1447530834474063674..comments2024-01-18T10:54:54.459+00:00Comments on Iain Macwhirter Now and Then: Is the financial crisis really over?iain macwhirterhttp://www.blogger.com/profile/14486911281896217461noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-22403989.post-4570141168917199022017-06-05T10:11:00.768+01:002017-06-05T10:11:00.768+01:00I really love this post I will visit again to read...I really love this post I will visit again to read your post in a very short time and I hope you will make more posts like this.<br /><br />Voyance email gratuithttp://www.roselyne-augustin.comnoreply@blogger.comtag:blogger.com,1999:blog-22403989.post-69559399641379596402011-01-09T15:32:35.421+00:002011-01-09T15:32:35.421+00:00It may be pertinent or impertinent, according to t...It may be pertinent or impertinent, according to taste, to ask why commodity prices are rising so much and so fast that rioting is already occurring in North Africa. Financial institutions appear to be speculating more and more in the commodity markets instead of investing in the real economy, in which, in Europe and the United States, the prospect of handsome returns is seriously diminished and seems destined to remain so.<br /><br />The trend towards speculating on the price of commodities appears likely to continue, as banks have still a long way to go in restoring their fortunes while concealing mountains of toxic debt. The mark-to-model accounting which was permitted for the purpose of dealing with that debt only makes it disappear from view, buying time but in itself resolving nothing.<br /><br />The more financial institutions rely on speculation of this type the more they will have to do so (or move into emerging markets), because the more they do so the more they harm the real economy by putting up prices for consumers, who then have to cut back their spending, because their incomes are being depressed by private-sector employers who cannot get loans from banks, or by public-sector employers who are themselves having to cut back because government has got itself into unsustainable and unmanageable debt to bail out financial institutions which are now stoking up the fires of the crisis instead of investing in the economy, which they can no longer do to an adequate extent because they are insolvent.<br /><br />As the governor of the Bank of England admits in a document released by WikiLeaks, the financial crisis which caused the Great Recession is essentially a crisis of solvency rather than liquidity. The banks went bust, and then governments went bust. So the system is bust. We just won't admit it yet, because we have our heads in the sand, which doesn't really help. What would help? It would help if there could be a general recognition that things really are as they are and that the financial system, therefore, needs to be radically reformed. <br /><br />Capitalism as we know it has reached a point which by its very nature it was bound to reach eventually and was predicted to reach. Casino capitalism, in other words, needs to be radically reformed if it is not to collapse. A focal point of the needed reform is considered by many to be, as it happens, speculation on the commodity markets, which, if allowed to continue, will cause so much economic, financial, political and social instability that the conseqences which may ensue from that in the present circumstances of widespread fiscal disorder simply do not bear thinking about, which is, of course, why we have our heads in the sand.Franklyhttp://rueclementmarot.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-22403989.post-75417970889008267392011-01-07T13:58:12.488+00:002011-01-07T13:58:12.488+00:00So with the UK plc going down the pan isnt it tim...So with the UK plc going down the pan isnt it time for Scotland PLC to prosper without being dragged down by London`s meltdownNConwayhttps://www.blogger.com/profile/03221619304790182655noreply@blogger.comtag:blogger.com,1999:blog-22403989.post-77303947221618821332011-01-06T22:30:29.099+00:002011-01-06T22:30:29.099+00:00Everybody keeps using the phrase
SCOT FREE, the i...Everybody keeps using the phrase <br />SCOT FREE, the implication being that it has something to do with Scotland.<br />It should read SKOT FREE, look it up nothing whatsoever to do with Scotland. <br />although it would be nice to be FREEAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-22403989.post-41334921357676856282011-01-06T21:34:41.019+00:002011-01-06T21:34:41.019+00:00Happy New Year to you Iain the economists are in &...Happy New Year to you Iain the economists are in 'La La Land' but hey lets be optimistic till my bonus is paid!<br /><br />The bottom is a long way off yet and the drop is getting longer but I am just a nobody as far as they are concerned.<br /><br />Scotland's only hope is getting rid of the shackles which will aid all parts of this Disunited Kingdum bar London which is the cancer and needs to be cut out.cynicalHighlanderhttps://www.blogger.com/profile/06034325908473006163noreply@blogger.com