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achaean57

Listed below are comments made by achaean57 between Monday, 17th November 2008 and Wednesday, 11th March 2009.

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Will QE work? 09:47am on 11 Mar 2009 Robert, perhaps the markets work on the basis of what market-makers expect the market to do, that is on the psychology of fellow market-makers. The markets would therefore be neither rational nor irrational, but simply imitative.
Not quite the full sorry 4:28pm on 10 Feb 2009 The main reason for their collective failure was that they did not understand the nature of the leveraged products their employees were trading in. Confessing that would mean confessing to ignorance and stupidity which they aren't going to do. A classic case of the failure to 'keep it simple, stupid'. Systems become unstable when they become so complex that the interconnections can't be seen. We humans over-estimate our ability to handle complex systems. You can't regulate what you don't understand either. And you can't govern what you don't understand, as Gordon may one day realise.
Blubbing bankers 10:03am on 30 Jan 2009 If the Chinese economy grows 8 per cent this year it will only be because the Chinese are taking in 8 per cent more of each other's washing! Chinese politicians fantasise just like ours, isn't it reassuring - not!
Davos and trust 10:56am on 28 Jan 2009 After all what's life without a lavish annual banquet?
When taxpayers buy business debt 10:23am on 27 Jan 2009 And what would stop the Banks increasing their lending abroad rather than at home, Robert?
Lend, lend, lend 4:48pm on 18 Jan 2009 But what stops the banks from taking this money and lending it to foreign concerns again, rather than domestic companies? Thus the British taxpayer underwrites foreign activity and not our own economy. In other words what stops the banking duffers from causing irresponsible lending mayhem all over again?
2009 is payback year 09:32am on 15 Dec 2008 Robert,
What makes a business 'fundamentally viable' now? In a low/no growth credit crunch world it would presumably be one which has little or no debt, and guaranteed positive cash inflows. Well those kind don't have a credit problem. How should we taxpayers choose which industries to support which don't meet those criteria?
Global recession and domestic lending 11:55am on 10 Dec 2008 I think you should say savers will be propping up the economy Robert, not taxpayers. Borrowers will be rewarded for borrowing. Credit is necessary to oil the wheels of capitalism, but let's not fool oursleves what behaviours it stimulates.
Superman Obama 11:24am on 08 Dec 2008 First Term: Rampant deflation.
Second Term: Rampant Inflation.
Best if he enjoys being a hero now. He's read his history and knows what happens to heroes.
G20: Good and bad for UK 11:32am on 17 Nov 2008 While I understand the criticism of Brown in some of these comments, because I share it, and while I would praise say Australia for running a genuinely prudent policy, it's clear that even prudent countries will not escape this global recession. Meanwhile unemployment destroys lives, and anything even tax increases later that avoids unemployment is worth doing. Judging Brown is judging the past, stimulating the economy is saving jobs. Let's do both!!

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achaean57