Archive for August, 2011

August 5, 2011

LightBox

The LightBox section of TIME Magazine is always worth a look, I think.

Here’s this weeks Closeup.

The photographs capture more than a newsreel. There isn’t such a distance creating by the lens. What I mean is, a still photograph has a much stronger and personal effect.

When you see the fear in the face of the Rebel Fighter in Libya or the serenity and jaded beauty of the memorial in Norway or the serious face of the murder suspect standing a foot away from the police officer you can’t help but feel that these are real lives being affected by real situations.

August 5, 2011

Good Morning

A few videos to kick things off.

I can believe this especially if my weekly bill of macaroni and cheese is anything to go by.

If you have a spare $370,000 knocking around for a new car, but don’t want to compromise on practicability then maybe this is for you. On the other hand I haven’t heard anything about it being released in the UK; sounds like something just for the Yanks.

August 2, 2011

Bad News for [Swiss] Bankers

Barclays announces that it is cutting 3,000 jobs. This, coupled with the news from HSBC yesterday that they will continue to cut 30,000 jobs throughout their worldwide banks by 2013 sets a dim prospect for British Banks.

Still, it could be worse. You could be Swiss.

UBS and Credit Suisse last week said that second-quarter earnings dropped 71%. And today their stocks dropped for the seventh consecutive day. It seems to be a consequence of the fragility of the Spainish, Greek and Italian economies and the debt limit lift over the Atlantic.  This could have an effect on other European banks that are expected to follow the trend.

August 1, 2011

Uh Oh, Bachmann on Debt.

For those interested in the glamour show that is American politics. Quoted from Michael Kinsley’s article in Bloomberg Businessweek (July 25-31) on Michele Bachmann’s debt reduction policy:

I bet she’s a good mother, politics aside. But I can’t help wondering: What does Michele Bachmann teach all those kids about the importance of living up to your obligations?

Say, for example, that one of them owed some people, oh, about $14.3 trillion. Would Bachmann tell her children that a debt is a moral obligation that an honourable person will go to great lengths to pay if at all possible? Or would she tell them, Well, it all depends. Whether you pay back money that’s been loaned to you is a practical question. And if you calculate that you’d be better off reneging, then by all means do so. It’s perfectly O.K.