The Retreat From Hard Money
Imagine the US economy shrinking by 30% over the past four years, the Chinese economy growing at 2%, not 10%. Imagine UK house prices down 60% and commodity prices sliding back to the levels of the mid-1970s.
Wrong About Japan
“What most likely happened was pedal misapplication.” So concluded an official of the National Highway Traffic Safety Administration, the US body which has just published its report on the spate of accidents involving Toyota cars.
When China Hits a Bric Wall
Who has survived the global credit crisis in the best shape? As Chou En Lai said about the impact of the French Revolution, it’s still too early to judge. The snap verdict that China is the big winner and the US and rest of the old G7 are big losers is already looking questionable.
We’re Turning Japanese, Not Greek
The Greeks have got a lot to answer for. As well as roiling the markets and torpedoing the euro, they have inflicted serious damage on the debate about the global crisis and its remedies.
Sayonara Toyota?
cons of competitive excellence are supposed to be immune from the failings of ordinary mortals. That was why the fall from grace of Tiger Woods was so disorienting. The evaporation of Toyota’s reputation for superhuman quality is even more shocking. After the eight million vehicle recall, it feels as if something comforting and hopeful has disappeared from the world for ever.
The Rock Star Bears
A notable phenomenon of this past year of living dangerously in financial markets has been the triumph of the ultra-bears. Deeply pessimistic commentators such as Nourel Roubini who were previously unknown or had only niche followings have been propelled to rock star status.
No Panties Capitalism – Are We Turning Japanese?
Shabu shabu is a simple but delicious Japanese dish in which transclucently thin slices of beef are dipped into a boiling broth of vegetables and tofu. A few seconds will do; just enough for the meat to turn pinky-grey.