The rather unusual news from the UK is that the British government has grabbed control of Lloyds TSB PLC as a part of guaranteeing loans worth £260 billion. According to a statement from Lloyds TSB, “About 83% of the insured assets were acquired when the bank bought HBOS.” The details, as reported by Bloomberg, can […]
It had to happen. Iceland couldn’t be the only government to ‘go under’ during this financial crisis. This is one of the problems with a global recession, it is very hard to guess what is actually at risk. It could be everything, or it could be nothing. Either way, the impact of too much borrowed […]
The CNN story here shows just what a mess the banking sector is in. The sad thing is that the list of 250 banks ‘in trouble’ is only in the USA. When I clicked on the link, I was rather hoping that it was a global list. Perhaps it was less hope and more blind […]
I am starting to wonder if the American government needs a torch. They seem unable to spot the black hole into which they are pouring money. They ought to use a BIG torch! In the face of enormous competition globally, a slowing market and what appear to be many internal problems, GM keeps losing money. […]
For those readers with a background in either finance or economics, the basic causes of inflation will be no surprise. For those of you that do not have a macro-economic background – the sensible ones! – here we go… Inflation is generally caused by pressures that are either internal or external to the country concerned. […]
I found this on YouTube and thought I’d share it. It relates to the stock market crash and is super interesting - footage that takes us back in time. There are some parallels here for sure!
Despite the credit crunch or crisis - depending upon your lexicon - politicians around the world have been clinging to anything positive and trying to avoid the word “recession” in any form. Those brave souls that do use the word recession are playing it down in the hope that it will only last a few […]