The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Having the milk of human kindness racing through my veins I would go with "dumb as a sack of hammers." Here we see the various incarnations of the financial press: WSJ, FT, Barrons, et.al., as work-theraphy provided by the members of the ruling elites for people who would otherwise be wandering the streets, getting run over by buses, falling down open manholes, & etc. etc. etc.
Otherwise, the complete failure of Mr Wolf to include the gah-whomping increase in M3 on the part of the Central Bankers over the past 12 years in the 'First World' in his little essay as the fuel for the "recent explosive growth in finance." Since Mr. Wolf is mentally incompetent there is no reason to refer - yet again - to the Federal Reserve Bank of the US which, for several years, effectively gave money to Money Center Banks.
A cynic might suggest it is somewhat easy for a financier to make a profit when someone else is paying you to haul money away so you can lend it. And with some of that money purchase themselves a writer on matters financial or twelve. To support this cynicism he (or she) could point to the Economist . In that August journal, when the US Federal Reserve quit publishing the M3 statistic, their reported estimate of the growth of the money supply went 8.8%/year to 5.3% in a mere 3 weeks. A dramatic reduction attributed to -- well ... nothing. It just happened.
(Lo! A Miracle!)
But I, with the Milk of Human Kindness running through my veins, would never consider such a thesis. She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre
by Frank Schnittger - Jan 26 3 comments
by Frank Schnittger - Jan 31 2 comments
by Frank Schnittger - Feb 2
by Frank Schnittger - Jan 22 3 comments
by Cat - Jan 25 55 comments
by Oui - Jan 9 21 comments
by Frank Schnittger - Jan 13 28 comments
by gmoke - Jan 20
by Oui - Feb 212 comments
by Oui - Feb 13 comments
by Frank Schnittger - Jan 312 comments
by gmoke - Jan 29
by Oui - Jan 2731 comments
by Frank Schnittger - Jan 263 comments
by Cat - Jan 2555 comments
by Frank Schnittger - Jan 223 comments
by Oui - Jan 2110 comments
by Oui - Jan 21
by Oui - Jan 20
by Oui - Jan 1841 comments
by Oui - Jan 1591 comments
by Oui - Jan 145 comments
by Frank Schnittger - Jan 1328 comments
by Oui - Jan 1221 comments
by Oui - Jan 1120 comments
by Oui - Jan 1034 comments