Terence Beney

Who pays when the revolution comes?

Determining who is responsible for the most frightening financial meltdown since the Great Depression requires some clarification of the facts. The first is this: blaming America’s housing collapse for the crisis is simplistic and deceptive. The Economist reports that by 2006 the total value of sub-prime mortgages amounted to $600-billion. That total had probably increased…

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The children sense Daddy Warbucks’ mood

I am busy scribbling away at the nefarious second installment of the diabolical trilogy on the credit crunch. It’s the one about who is to blame and should be a big hit, what with us being bloggers and readers of blogs. Blaming for us is like blaring for a chairman when an impertinent shareholder dares…

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Can you count to a trillion?

Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one. — Charles Mackay in Extraordinary Popular Delusions and the Madness of Crowds Men go crazy in congregations, they only get better one by one —…

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