Merry Christmas

Torrens is a little worried about Europe’s leaders. It seems that while European bankers got an early half a trillion euro Christmas present fro the ECB (being able to borrow cash at 1% for three years), one or two of Europe’s politicians didn’t make it on to Santa’s nice list.


On that note, Torrens and Mrs Hume would like to wish all their friends and family a very Merry Christmas. May the specie flow your way!

One thought on “Merry Christmas

  1. Christmas is always a time for reflection and Nether-bee and her family thank TH for his Christmas wishes.
    Nether-bee has done considerable reflection this year and it occurs to her that as the centuries roll over so do new sets of circumstances. For example, approximately two hundred years ago, England was at war with France until Wellington defeated Napoleon in 1815 and Adam Smith’s neo-classical economic reform was changing the way the Brits considered their economy, which was booming, thank you very much, due to the industrial revolution. It was also the time when reformers were allowed to think about new social/political/economic issues that were to improve the health and well-being of Britain. Europe, America, Canada and Australia were to follow suit.
    By the end of that century and Queen Victoria’s reign, America, France and Germany had caught up and amongst other things, the motor car had arrived. Canada had been an independent nation for over 30 years and Australia was set for Federation.
    The world was disrupted by the two World Wars during the first half of the 20th century, and did not recover for some time. So here we are 12 years into the 21st century and we are once again in a period of flux and economic power games.
    Not being an economist Nether-bee has no real understanding of neither the American economy, nor the British and European economies, but as an Australian she finds it interesting that both Canada and Australia seemed to have learned their economic lessons well. She hopes that the bigger powers will not pull them down and that Australia’s relationship with China is amicable.
    It took until 1815 for Napoleon to be defeated – perhaps it will take until 2015 to sort out the Euro.

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