Tuesday 19 July 2011

UK banks dragged into eurozone crisis as global markets take fright | Business | The Guardian

Seems we are another step closer to a massive world depression! If only there were a way to climb out of the trap made from past mistakes in monetary and fiscal policy.

We are mired in an unfair world economy in which banks and borrowers are subsidized while working people are laid off. The screw has turned and we will see negative consequences.

It's not a question of possible steps toward what a world central bank could accomplish, it's a question of massive maturity mismatch and the mathematics of business cycles!

Having made monstrous policy mistakes, there is no easy exit like waving a magic money wand!

http://www.guardian.co.uk/business/2011/jul/18/banks-eurozone-losses-rbs-lloyds-barclays?CMP=EMCGT_190711

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