01 Mar 09
Yet more mind numbing insight from the experts this morning. ‘What the markets need above all else’, declared one eminent commentator, ‘is stability.’ Wrong, wrong, wrong you silly little man. Didn’t they teach you anything on your MBA? It is volatility, not stability, which markets thrive on. Volatility is why what is happening to the world today is happening. Volatility is the secret name of modern Mammon. Understand volatility and we can really see what is going on. They would like you to think it is complicated, but it’s not. It’s worth a little digression to understand. Read more.
Listen to David Malone reading four different excerpts from The Debt Generation.
30 Mar 09
For anyone who has never been ‘kettled’ it is when the police at a protest suddenly close ranks and refuse to let anyone leave. You suddenly find you are held against your wishes. The police will not explain why, and they won’t allow any exceptions. You suddenly have no control over what is happening, and no discussion is permitted. A decision made by someone you have never seen now exerts complete and total control over your life. We are all in that position now. Read more.
05 May 10
Today looks like the day when the fun really starts. This morning, while the IMF was proudly puffing on its announcement that it would agree the plan and loan for Greece, the Greek people and the bond market had other ideas. The Greek people went for the general strike and occupation of the Acropolis option. The bond market, for their part, decided to play for keeps. Credit default swaps on all the so-called PIIGS (Portugal, Ireland, Italy, Greece, Spain) exploded this morning. Read more.