Moody’ issued a warning on European banks, which implies that the smart money is moving out of the worst affected banks: Eastern European banks, and Western European banks with a lot of exposure to Eastern Europe.This, in turn, is putting pressure on European government bonds, as speculators doubt that European governments will be able to …
Author: Jim
Chinese becoming wealthy, Americans ceasing to be
Captain Capitalism explains why Chinese are becoming wealthy, and Americans ceasing to be.
Headless body in Gutless press
Mark Steyn ridicules the mainstream press’s fear of Islam: the killing of Aasiya Hassan seems to have elicited a very muted response. When poor Mrs. Hassan’s husband launched his TV network to counter negative stereotypes of Muslims, he had no difficulty generating column inches, as far afield as The Columbus Dispatch, The Detroit Free Press, …
The lesson of Japan’s failure
Ten years ago, Japan had a banking crisis very like the one we just had. It was discovered that financiers and big businessmen had blown staggering sums of money, whereupon the government massively intervened to keep those that had screwed up from losing their jobs. The Japanese economy has been stagnant ever since, even though, …
Smoot Hawley again
One of the several government actions that so greatly prolonged the great depression was Smoot Hawley. The Becker Posner blog reports that the democrats want do do FDR all over again – meaning do the great depression all over again.
The cause of the crisis
In numerous posts, I have argued that CRA affirmative action caused the economic crisis that is happening now. Vdare provides a far better post than any of mine, giving us case histories and numerous horror stories of bank?s proudly pissing away stupendous amounts of money, and boasting of their wonderful CRA compliance in so doing. …
Israel did not win
After the recent war in the Gaza strip, Hamas declared victory, and Israel declared victory. What do they teach small boys in school today? When I was in school, the first thing I learned is that the fight is not over till the winner can make loser cry “uncleâ€. Hamas has not been destroyed, nor …
Plain speaking on warmist “scienceâ€
Hansen’s former supervisor tells us plainly what Climate Audit has been telling us politely The models do not realistically simulate the climate system because there are many very important sub-grid scale processes that the models either replicate poorly or completely omit. Furthermore, some scientists have manipulated the observed data to justify their model results. In …
The Origin of Species
“blogging the origin†criticizes Darwin for emphasizing selection, rather than separation, as the primary cause of speciation. But we now know that Darwin was, as usual, right, and the latest fashions were, as usual, wrong again. Until recently the evidence for *any* speciation was thin, and in the absence of evidence, people liked to imagine …
British police retreat before Muslims
British police retreat before a hail of not very dangerous missiles: This retreat follows a long series of recent similar humiliations – the British submission in Basra, in Helmand province, and in the Persian Gulf. Weakness and fear is provocative. Someone is going to take Britain from the British.