been listening to Radio 4 news this morning and at last it seems to be sinking in that if the politicians make the wrong moves, which by the way I think they will, then we will have a rturn to the 1930's where decisions made in 1928/29 were the root cause.
Henry Ford was just so wrong 'history is bunk', there are lessons to be learnt.
But you ask why did things start to go wrong in 1928/29 then look into the problems raised by reparations which was meant to resolve the issue of 'war crimes' and a war of aggression by Germany in the Great War. They were forced to pay for their 'crimes'. Only trouble was that the governments were spending the money before it was received and guess what, tth efunds dried up, and there was no money.
Oh, and the great Winston Churchill who was chancellor had put us back onto the gold standard at an unsustainable rate. Maybe, Gordon sold our gold because he had read the history books. Surely not some Stalinesque revenge.
The economies in the west are imploding, if they save the American insurance company AIG then we all might as well give up and go home. Let them pay the price, because the moral hazard question has not gone away.
Moral Hazard
been listening to Radio 4 news this morning and at last it seems to be sinking in that if the politicians make the wrong moves, which by the way I think they will, then we will have a rturn to the 1930's where decisions made in 1928/29 were the root cause.
Henry Ford was just so wrong 'history is bunk', there are lessons to be learnt.
But you ask why did things start to go wrong in 1928/29 then look into the problems raised by reparations which was meant to resolve the issue of 'war crimes' and a war of aggression by Germany in the Great War. They were forced to pay for their 'crimes'. Only trouble was that the governments were spending the money before it was received and guess what, tth efunds dried up, and there was no money.
Oh, and the great Winston Churchill who was chancellor had put us back onto the gold standard at an unsustainable rate. Maybe, Gordon sold our gold because he had read the history books. Surely not some Stalinesque revenge.
The economies in the west are imploding, if they save the American insurance company AIG then we all might as well give up and go home. Let them pay the price, because the moral hazard question has not gone away.