Several years ago, at the height of the thermonuclear phase of the Global Financial Crisis (compared to the slow radiation death we’re experiencing at the moment) a colleague of mine poured scorn on the US as an economy and looked towards the mighty powerhouse of Europe as an example of How To Do Things Right.…
It’s chock-full of analysis, numbers, tables and charts showing how as much as things change, the scope for financial crises changes very little. The comparison of Developed and Emerging Markets is particularly interesting in that the differences, while they do exist, are far smaller than stereotypical views. Emerging Markets do tend to have more ongoing…
@RichardWooding sent me a link to a Wired story about a new Bitcoin wallet app for Android. I think Richard has figured I’d enjoy taking a few pot shots at this based on my past posts on bitcoins. The article is fairly balanced, indicating the recent (and trust me on this, ongoing) problems with BitCoins.…
South Africa has been approached for a loan to Swaziland, rumoured to be in the R10bn ballpark. Swaziland’s economy is teetering. Amongst other causes, HIV/AIDS is probably worse than any other place on the planet. But most shockingly of all, it’s still a monarchy with political parties banned. If we lend them money, we probably…
Ah Bitcoins: In addition to being a disastrous idea, experiencing recent crashes and fraud, the EFF has now decided that they “…don’t fully understand the complex legal issues involved with creating a new currency system.” and didn’t want to be construed as endorsing the system. In other news, despite assurances to the contrary, I wouldn’t…
Most of the comments on this Slashdot article about fraud and crashes with Bitcoin are insightful. Some are funny too. Most telling for me is that one of the primary Bitcoin exchanges Mt Gox started life as “Magic The Gathering Online Exchange” – an exchange to trade collectable cards for a fantasy game. Should I…
Greece’s credit rating is now the worst in the world. Any non-Euro country borrowing in its domestic currency would have been able to deal, in part, with their financial crisis through depreciation / devaluation of the currency. The burden of debt would be reduced (although many investors might see this as implicit default) and the…
Minister in the Presidency and head of the National Planning Commission, Trevor Manuel, says he is not in the running for the MD position at the International Monetary Fund. No economic qualifications Oversaw popular decreases in taxes and increase in social handouts but did nothing for infrastructure, competitiveness or efficiency of our country Oversaw the…
