Another long, long, long summer ahead #austerity #Merkel #Greece #Spain #Italy


Christmas in the post-War United States

Christmas in the post-War United States (Photo credit: Wikipedia)

So what’s changed since my original article in May 2012?

Not a lot really, other than Italy is about to explode with reportedly huge derivative losses approaching expiry. Hotly denied by the Italian government of course.

There is only one answer of course to the global mess, which is the good bank, bad bank theory……leave all the rubbish to your great great great grandchildren, stick interest rates up, lob Basel III in the bin, start lending again and get on with it.

Unfortunately there are no major global sporting events to look forward to this summer…

Oh well, it’s nearly Christmas…

Common sense, just common sense.

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