Just half an hour long...
Again, an American Corporate Economics Analyst vs some British Dude. The former was very anecdotal, employing a touch too many metaphors without any concept of time-keeping on the programme. Looked set to lecture. He was very passionate about 'socialisation', that private debt is turning to public liability/sovereign debt. Said that it's a good thing that we're talking about debt, instead of insolvency. Moral and ethical questions were raised, that the mistakes of our bankers are like putting mortgages on our childrens' future. The people responsible are not being held accountable, and the consequences of that will be suffered upon future generations, and not on the ones who started it. Also Paul Mason's piece preceded this (talking about GDP, about the contagion extending to Greece, Portugal and Spain). Parallels with 1929 suggest a double-dip recession. Its seems a very precarious financial situation.
Also discussed the British ballet performer Margot Fontaine, who was involved in a revolt against the government in Panama some years ago. Can't remember why that was Newsnight worthy... But fascinating nonetheless! For love, did she act. An interesting idea of artists being apolitical, they're supposedly ideologically removed from politics, so as to be in a position to have it's critique resonate more with the masses.
Random words:
Solvency
Fiscal defecit
Sub-letting
FTSE
Dow
Euro
Dollar
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