Comments(0) Last night, the ‘Golden Triangle’ convened at Oscillate Wildly for an 8 course degustation meal. Highlights were the company, of course, the jewfish and the duck. We knocked back a red, white, champagne, desert wine, and a beer each. Only lowlight was the service was a little snooty, which is disappointing for this smartish local diner.
Comments(0) Excellent article by my economics hero Ross Gittins on why in the current climate governments are helping banks out. Some of this I knew, but it also answered a lot of questions for me.
How come conservative American politicians, avowed believers in the free market, are busy propping up investment banks and nationalising insurance companies?
Are they just helping out their rich buddies at taxpayers’ expense? The old story of capitalising the profits and socialising the losses?
… [in between, lots of interesting stuff]
That means no free ride for the banks and no effect on inflation. Taxpayers’ money is being used in ways that benefit taxpayers.