Greg's View of the News 01/21/2009

• Britain to the edge of bankruptcy

  They don't know what they're doing, do they? With every step taken by the Government as it tries frantically to prop up the British banking system, this central truth becomes ever more obvious. Yesterday marked a new low for all involved, even by the standards of this crisis. Britons woke to news of the enormity of the fresh horrors in store.

  tags: blogger

  • It seems to me that every country caught up in the refinancing of banks is going to need more than the value of the nation's assetts to bail them out
    
    How can you do that? - post by gnaylor
  • They don't know what they're doing, do they? With every step taken by the Government as it tries frantically to prop up the British banking system, this central truth becomes ever more obvious. Yesterday marked a new low for all involved, even by the standards of this crisis. Britons woke to news of the enormity of the fresh horrors in store.
  • Frantic they certainly are. The Brits are so far down the socialist path they have reached the inevitable dead end.
  • If we told you two years ago that the financial systems of the United States and Britain would be effectively insolvent (which we did), you probably wouldn't have believed us. If we told you that Wall Street and the City were effectively wiped out (which we did), you might have chuckled and gone on your way. And if we indicated that most people would be blaming subprime mortgages, you might have laughed out loud. In fact, concerning the subprime thing, you would have had a right. Yes, the idea that subprime mortgage lending caused the collapse of the financial systems of Britain and America (and how about France, Germany and Italy?) is essentially risible. It is the system of fiat money itself that created the bankruptcy.

• Humans eating frogs into extinction | Herald Sun

  A world obsession with the French delicacy has seen the consumption of garlic sauteed frogs legs increase dramatically in the past 20 years, with scientists from the University of Adelaide predicting the global trade of the amphibians rests somewhere between 200 million to one billion each year.
  
  GREG'S VIEW: When they run out of frogs, they might switch across to cane toads ... and Australia could keep the world going there for a while ;)

  tags: blogger, frogs, extinction

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