The IMF has warned that potential losses from the credit crunch could reach $4 trillion and damage the financial system for years to come. It says that even if urgent action is taken to clean up the banking system, the process will be “slow and painful”, delaying economic recovery. It says that banks may need …
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Author:astraea
Losses of $ 4 Trillion (that’s 12 zeroes).
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Would you all please stop bickering.
It was never going to be easy. Before it had begun important participants, like the US, had already turned up their noses. The UN conference on racism had a patchy history and was bound to raise hackles. It is unfortunate that “diplomats” walked out of a speech by a President, even if they have difficulty …
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Get happy – get off the earnings ladder!
People who compare their earnings with others are damaging their health, becoming less happy, more depressed, and less satisfied with life overall, according to new research by Professors Andrew Clark and Claudia Senik from the Paris School of Economics, to be presented at the annual conference of the Royal Economic Society. (BBC report here.) This …
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Looking for the bottom; but it’s not over yet …
The IMF is talking straight. That’s good because we need to be realistic. And realism will rejuvenate confidence. False starts just create pain. The IMF warns that the global recession is likely to be “unusually long and severe, and the recovery sluggish”. See IMF’s World Economic Outlook (WEO) Crisis and Recovery April 2009 here. BBC’s …
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Opportunity in Crisis
Linked here is a presentation used in discussion with an audience of business owners on how to manage in the economic crisis. There is no simple solution for one business, let alone several, so the slides aim to stimulate discussion and thoughts which lead to business stability and prosperity. Opportunity in Crisis – A pocketful …
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GM rice to poison the world?
In a few days the EU will decide whether or not to allow GM rice to be imported to the the EU. Most countries have shied away from allowing risky experimentation with the world’s most important staple crop and at present, no GE rice is grown commercially anywhere in the world. But Bayer, the German …
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Dog Biscuits
Just a cute story … Dog Biscuits by David Rippe (excerpted from Listen–The Sounds and Silences of Our Secret Lives) Listen up. Lean in. I have a story to tell. One you will want to hear. It’s a short trip between cool and fool–two letters actually, alphabetically speaking. You’ll have to decide which one am …
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A different approach – Irish emergency budget.
Ireland’s government issued a revised budget yesterday. It is an austere break from the model being adopted in many other countries. Ireland’s finances are in dire need of repair and the government has reacted by increasing taxes and reducing public spending. It is certain that we need to make adjustments and rebuild our economy to …
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