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'I introduced Premium Bonds... the Archbishop of Canterbury accused me of demoralising the English people. Sir Harold Wilson, a more powerful authority on ethics and morals, accused me of debauching the[m]...'
- Macmillan's hilarious recollection of his only Budget as Chancellor
New on ET: This is the Great Ravine
"I was slowly but surely led from a shared sadness over a terrible event to an inchoate anger with the overall system to a focused anger at specific people and institutions. Sound familiar?"
No paywall on this one.
https://t.co/HGLZelC2NW
Great thought for day
KURT VONNEGUT:
I went out to buy an envelope ~ Oh, my wife says, well, you're not a poor man, You know, why don't you go online and buy a hundred envelopes and put them in the closet? And so I pretend not to hear her. And go out to get an envelope because I'm going to have a hell of a good time in the process of buying one envelope.
I meet a lot of people. And, see some great looking babes. And a fire engine goes by. And I give them the thumbs up. And I ask a woman what kind of dog that is. And, and I don't know. The moral of the story is, is we're here on Earth to fart around.
And, of course, the computers will do us out of that. And, what the computer people don't realize, or they don't care, is we're dancing animals. You know, we love to move around. And, we're not supposed to dance at all anymore. ~ Kurt Vonnegut 100%
From the @WSJ.
This is likely to amplify the pressures facing some banks on account of higher funding costs, more loan loss provisions and, for some, a less settled deposit base.
It also raises the age-old issue of who rates the rating agencies.
#markets#banks #econtwitter #economy #ratings