To the Frioul
VID_20120823_134936.3gp Watch on Posterous Not much to add :D
LIBOR's Real Scandal Is Not Fraud But Self...
The London InterBank Offered Rate (LIBOR) is a self appraised barometer widely used financial markets as a root index to rate their own products. Guess what? It is self regulated as usual in the banking industry. And one more time the invisible hand failed. The LIBOR is built by a club of bankers, the British Banking Association, upon the answers given by major banks to a simple and naive...
IMF reports on the roots of the world recession:...
Read on Mother Jones : “In other words: It’s not: Financial crisis —-> recession It is: Recession + leverage —-> financial crisis” http://m.motherjones.com/kevin-drum/2012/07/great-recession-all-about-leverage-leverage-leverage
Browsing through time in Paris
I took this sepia stylee pic of the iconic rear side of Notre-Dame de Paris while crossing the Seine river at dawn. Note sure it worth the look bearing in mind I used my mobile phone but the inspiration came from (alcohol apart) same day browsing in the amazing historical collections of Parisian photographs I recomend: http://www.parisenimages.fr/en/collections-gallery.html Enjoy !
Browsing through time in Paris
After a browse in wonderful collections from the early days of photograpy, I took this sepia stylee pic of the iconic rear side of Notre-Dame de Paris while crossing the Seine river at dawn. Note sure it worth the look but the inspiration came from (alcohol apart) same day browsing in the amazing historical collection of Parisian photographs...
read the UNHCR report: Australia only took 5,242...
… and to ignore it is sadistic. 5,242 is the number of asylum seekers Australia took in 2011. Australian politicians, journalists and regular ABC Drum / Crikey commentators don’t like to delve in that number because it exposes a bi-partisan national selfishness, which no camp would benefit from. 5,242 is a tiny number in the global scale. Have a look at how small the Australian dot...
While same-sex couples may be rushing for legal...
Coffins are ready for the EU at the G 20 summit,...
This is not a hoax. Council of the European Union reports on its official website about the press conference of the two top leaders of the European Union at the G2O summit in Los Cabos, Mexico on June 19, 2012: President of the Council of the European Union Mr Von Rompuy together with President of the European Commission Mr Barroso. A rather stange picture. Am I the only one to see...
Appeal to all the European parlementarians who...
Europe as we know it might be about to terminate with a rule that beyond a strict budget control implies economic growth to be higher than debt interset rate which is only possible in a shrinking economy to the expense of the welfare state, the stability of the economy and democracy ultimately. French-speaking economic analyst and antropologist Paul Jorion is issueing an appeal to law makers...
A simple enough chart to summarise the reason...
The gap between the Anglophone and Francophone press about the current Quebec Student protests is simply astounding. The neoliberal bias of most anglo Op-Eds reveals how indoctrinated most journos have become to an economic rationalism they probably don’t understand themselves - because if they did they certainly would not want to subject themselves and their offspring to it. A classic is...
2012 G8 Summit Outcome
Nothing more to report from the G8 summit.
Big 4 Australian Banks (ANZ, CBA, NAB, Westpac)...
If you are over the media commentaries but still want more on that Budget, a radical pill could be to read what “the Big Banks” think of it… ANZ-Australian_Federal_Budget-Report-2012.pdf Download this file CBA_Australian_Federal_Budget-Report-2012.pdf Download this file NAB-Australian_Federal_Budget-Report-2012.pdf Download this file ...
analysis of Francois Hollande's post-election...
An interesting analysis of Francois Hollande’s post-election prospects by Credit Agricole Cheuvreux Research to appreciate how the Finance sector views his election. (Flagged by blogger @Dr_Tad) This note is to be read amid alarmist predictions by the prophets of gloom that France would immediately be under attack from the Markets: in other words that the French Govt Bonds (The Debt) would...
Overcrowded Bastille celebrates the fall of...
Impossible for your correspondent to access the place de la Bastille. People rejoice to the end of the Sarkozian era more than anything else. See the full gallery on Posterous
Today's polls give Hollande a 53% Win
In order to protect the fairness of the vote, publishing polls is forbidden in France until 8pm (French time) and the closure of the voting centres. This Law does not apply to Australia, so here are the latest polls dated today : Harris Interactive: 53% Hollande - 47% Sarkozy Sofres: 53% Hollande - 47% Sarkozy Opinion Way: 52,5% Hollande - 47,5 % Sarkozy With an usual error...
Happy ending from Bastille
Pics sent overnight by co-blogger from Bastille square. Happy Ending reported from the Left march.Sent from my phone Begin forwarded message: From: Subject: Happy end See the full gallery on Posterous
VIDEO0023.3gp Watch on Posterous Occupy Denfert
Historical Materialism (2008) Marxists, Muslims...
A confronting paper for the French ‘progressives’, which I recommend you read if you ut yourself in that category. Heard thru Richard Seymour. (twitter: @leninology - blog: Lenin’s Tomb) Abstract: The article addresses the divergent responses of the radical Left in Britain and France to the emergence of Muslims as a political subject in the advanced capitalist countries. It...
Is this some capitalist creative destruction? Now... →
How would you feel if your insurance changed the rules to not pay you? This is what ISDA did to Greek CDS holders. And here is how… The self regulatory body of the Derivatives market, the International Swaps and Derivatives Association (ISDA), ruled on March 1st that the recent restructuring of the Greek debt, which includes a 47% cut in bonds value for private investors, is not significant...
Why the Market really wanted the Greek package... →
Ο καπιταλισμός είναι ζωντανός και καλά, και εσείς ? … the first part of our title is an attempt for a Greek version of a stencil spotted on the Parisian pavement: “Capitalism is alive and kicking, what about you?“. Our Greek fellows will appreciate the question. They will also appreciate one of the reasons Capitalism finds a second wind every time one of those rescue packages are signed...
The real Thatcher, by JOHN HOWARD (Australian Financial Review 3/3/2012) John Howard has a few things to say about the “Iron Lady”… Prime Minister John Howard with Baroness Thatcher, London, 1997. Office of the Honourable John Howard To adopt Shakespeare, Meryl Streep came to bury Margaret Thatcher, not to praise her. This was attempted – in the filmThe Iron Lady – by the simple, but telling,...
Inside Job. The documentary. Online. For free. →
Habermas, the Last European - A Philosopher's... →
FROM DER SPIEGEL
Urban Skiing Canadian freestyle skier JP Auclair takes his awesome stunts to the streets of Trail, Rossland, and Nelson, BC, for some urban skiing. This edit is part of a ski movie ‘All.I.Can‘.
You remember that trader on BBC? “The Collapse is...
You remember that fellow trader Alessio Rastani, whose interview on the BBC went viral because he was claiming that “The Collapse is Coming and Goldman Sachs Rules The World”? And before that, you remember the origin of the financial crisis? The call for public money to save the private financial institutions? The privatisation of profits and socialisation of debts? Well, it has not damaged...
UBS on Euro: “no modern monetary unions have... →
The Battle of the Bonds →
Everyone knows that Greece will default on its external debt. The only question concerns the best way to arrange it so that no one really understands that Greece is actually defaulting. On this…
The simpliest explanation you’ll find: The chart... →
AA+? Has Standard and Poor’s shot the US a bullet... →
Osborne needs a Plan C →
George Osborne expected to inherit a booming economy. In September 2007-the month Northern Rock collapsed – he promised to match Labour’s spending plans for his first three years as Chancellor. He…
BRICS:2 USA:0 After challenging the dollar, India... →
Sarkozy. Now at the movies. Not in The West Wing,... →
Book review: ‘Arrival City’. And why refugees are... →
Robert Skidelsky at HowTheLightGetsIn: the... →
Event 1 - Limits to Liberty (Saturday 4th June, 12pm) Frank Furedi, Yasmin Alibhai-Brown, Robert Skidelsky. Mary Ann Sieghart chairs. From tabloid complaints about ‘political…
Democracy or Finance →
LONDON – “Shorting” is a tactic well known among the financial cognoscenti. It means betting against an asset with borrowed money in the expectation of making a profit when its value goes down. A speculator can “short” a government by borrowing its debt at its current price, in the hope of selling it later at a lower price and pocketing the difference. For example: on January 1, 2010, I think to...
The Nuclear Industry is Too Big To Fail too →