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markaurelius

Listed below are comments made by markaurelius between Tuesday, 13th May 2008 and Monday, 15th September 2008.

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Lehman: insolvency looms 06:45am on 15 Sep 2008 It's so true that Lehman should not be subsidised. The finance industry has potrayed itself as masters of the universe with massive salaries (and smaller tax payments).

It might have implications for the global banking system, but a shakedown is needed. Further bailouts encourage greed.

Where was all the bailouts for manufacturing ? Their failures have profound impacts on local economies.
The football bubble 09:51am on 02 Sep 2008 Why haven't you blogged on the Chancellor comments at the weekend ?

Football is important, but surely the worst economics crisis in 60 years is more deserving.

And I disagree with your Arsenal comments, Arsenal produces profits year on year and isn't beholden to owners who rack up debts and can do a runner faster than the best players.
In defence of Europe 10:41pm on 05 Jun 2008 While the ambition of a European is good, if only to fight for European values ahead of naked American aggression.

However Europe is hindered by the lack of consensus.

Who would intervene in Darfur ? Even the US doesn't get involved despite the presence of oil because they won't face up to the Chinese power.

And didn't the Belgians suffer casulties at the start of the Rwanda genocide. Would Europe have a capability to strike back ?
Short-selling banks 7:04pm on 03 Jun 2008 I don't see the problem with short selling the banks provided it's not of the naked kind. Naked short selling misleads the market just as much AAA bonds made up of subprime mortgages.

It's all based on sentiment rather than economic facts. The hedge funds think there's more downside to banks share price, whereas if it is pensions funds lending out the shares they still make money from loaning.

It's speculation (arguably adding liquidity to the markets). The gamble is if banks maintain their dividends which the hedge funds have to those they've borrowed from.

As a long term private investor, it means I can buy banks shares at a level which I think is below their long term value.
The mortgage gap 07:38am on 24 May 2008 For all the government's talk of listening to the public and apparently 'acting', the retail banks decisions not to track Bank of England decisions shows how impotent they are.

The only other initiative they've come up with is helping first time buyers (probably subsidising them).

This will have no effect as it ignores the need for mobility within the population, and you're just adding demand at the bottom without increasing supply.

How will the government deliver it's goals of affordable housing, when housebuilders are laying off staff.

The hot money is in oils and metals for the time being, but these are finite resources. And as they are depleted you will see governments taking control of sources and supplies sidelining multinationals.

Everyone needs water and food, these are the long term sectors.
Estate agent shocker 2:33pm on 22 May 2008 It's just emblematic of the financial system. Fair play to Countrywide for negotiating these terms.

But you try the same as a member of the public with your mortgage and the banks will punish you.

Large companies are able to dictate their own terms and conditions, and move around to the best tax environment.

The whole financial system is based upon business plans and future forecasts that don't stand up to scrutiny. It's only with the credit crunch that it gets found out.

And as people say, these Masters of the Universe run our pension plans etc.

It's going to get worse, as the majority of estate agents seem to be cutting their rates to attract customers.
Centrica to go nuclear? 3:15pm on 13 May 2008 As we don't have our own supplies of uranium, aren't we potentially opening ourselves up to further energy security worries ? The Chinese seem to be much better customers by helping with infrastucture building in source countries, unlike the US method of blowing it all up. They also are less intrusive in a country's domestic politics.

Given the waste issues, this isn't a sustainable energy source.

Surely as a nation we need to be altering our behaviour to cut our energy consumption.

With renewables unlikely to fill the gap, we need to be cutting down on ipods and other gadgets (let alone the other big uses).

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