Joseph Stiglitz

The rest of the world has had enough of the monopoly of the credit-rating agencies that are largely biased towards the US economy and it’s about time that it all came to an end. 

It’s all for play isn’t it when the French Minister of the Interior Manuel Valls summons the US Ambassador?

Dreams usually come to an end when we get to the good part. The juiciest part of the American dream has ended too

As we sit in our comfortable living rooms, loafing back into our sofas, munching on a bar of chocolate and slurping down the coffee whilst checking the smartphone for message most of us have little idea that the chocolate, the coffee and the smartphone were made by resorting to indirect slavery quite probably. 

Once upon a time the person that ended up with the Nobel Prize for whatever it might have been was always the single person to be left standing on the podium in the number one position.

It’s obvious that we might sometimes have the impression the freedom has no price on it. But, think again.

We all know that it’s not actually the message that is important but the way that the words are interpreted by those reading them. Never has that been more important than with Twitter. You only get 140 characters, which might be too much when we read some of the comments on there. But, for others it’s far from enough. Traders look like they could be needing a few more pages to get the full picture. Just a few days ago traders made a mistake when they read the tweet posted by the Israeli army on October 10th 2013.

Once upon a time there was a conflict that was based upon ethnic origins in Darfur.

As Warren Buffet openly states that he believes that a default on US debt will be catastrophic and that lawmakers in Congress need to get their act together and get the federal government back to work by passing the budget we might well wonder if it’s just for show or if he really believes that.

Five years later, while some are congratulating themselves on avoiding another depression, no one in Europe or the United States can claim that prosperity has returned. The financial system may be more stable than it was five years ago, but that is a low bar – back then, it was teetering on the edge of a precipice. Those in government and the financial sector who congratulate themselves on banks’ return to profitability and mild – though hard-won – regulatory improvements should focus on what still needs to be done. Some are pleased that the economy may have bottomed out. But, in any meaningful sense, an economy in which most people’s incomes are below their pre-2008 levels is still in recession. An The glass is, at most, only one-quarter full; for most people, it is three-quarters empty.

Isn’t it wonderful how the US believes (whether that be the citizens or the politicians) that the state will never default on its debt repayments?

As the US government shutdown enters its 7th day today it looks as if we shouldn’t be holding our breath unless we want to go blue in the face in the hope that there might be a compromise or somebody might actually cave in.

Turning over new leaves and all that stuff is great if you believe that your true nature can be changed. But, leopards rarely change their spots and Iranian spots are just as indelible as any others in the world. 

At one time it was the Gold Rush that obsessed everyone as there were screams and shouts to be heard of ‘there’s gold in them there hills’. Now, it’s sugar that is creating the buzz in the investment world.

What would you say to working in either Switzerland or Yemen? The choice wouldn’t take too long to ponder over I guess when it comes to providing a healthy environment in which factors that would lead to long-term economic success that might be taken into consideration.