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Following alarmist end-times reporting on the turbulent state of the market and with the caveat that "numerology is a mrk (sic) of the truly loopy!" I feel it's only right to point out that the Bank of Italy believes it can bear an 8% yield. Many would argue that this absurd and superstitious obsession with so-called "mystical numbers" is little short of insane.
But an Ontario reader has this to say:
"Worth remembering though – it wasn’t long ago that no Government could borrow for as LITTLE as 8%. The modern era of low interest rates is quite a recent phenomenon, and it’s one of the things that made the huge superboom from 1992-2008 possible. No-one would have borrowed money for sub-primes at historic interest rates. Ironically low IRs followed from low inflation... and everyone borrowed, Texas consumers to Italian politicians alike..."
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Interesting. Perhaps our worship of Mammon has destroyed the West's collective memory? Still, as the annoying phrase runs, that was then, this is now...
God bless,
LSP
4 comments:
Ops thst should have been erm, MARK of course!
Sorry ......
If you want a real "beast" as opposed to satan who is as mythical as god ...
Try a state leader who is totally selfish.
I always thought the cardinal sin, as defined by the churches was wrong.
it isn't Pride, it's Selfishness.
"me to the complete exclusion of everyone and everything else."
Gaddafi / S. Hussein / Stalin / Hitler / Pol Pot / Franco / St Dominic ... the list goes on and on I'm afraid
Alright there, GT.
It's good to know you're against that selfishness which flows from pride.
No.
It's the other way around.
Pride comes from the selfishness.
Especially given that we are both an individualistic AND a herd-co-operative species.
Total disregard of others is really not a good idea.
It may temporarily benefit the individual (if they are able to get away with it from/in a position of power) but it acts to the detriment of the group/tribe/nation/humanity as a whole.
i.e. In evolutionary terms, it's a very bad thing, for the species.
I couldn't agree more, GT.
But I'm surprised that you don't think 'inordinate love of self' leads to selfishness.
I'd have thought that was self-evident.
Very bad for the species.
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