N.O.Brains zegt:

Why I Am Leaving Goldman Sachs

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.

Eens of Oneens: 0  0

N.O.Brains zegt:

Eindelijk iemand met brains:

Nuclear not offshore wind will power UK in future says Sir David King

..But Sir David, chief scientist under Tony Blair, said the UK could not rely on offshore wind, which the Government is investing billions of pounds in at the moment.

He said the huge turbines are expensive to install and difficult to maintain out at sea…

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N.O.Brains zegt:

Even wat knip en plak werk, helaas geen link:

The Big Fat Greek Lie Is Now Obvious to Spain… So Who’s Next to Default?
The big fat Greek lie being spread throughout the financial community is that Greece has been saved. It’s a lie for the following reasons:
1) Greece did in fact default
2) Greece now has more debt than it did before the bailout (how does writing off €100 billion Euros in debt and taking on €130 billion Euros in more debt improve this situation?)
3) The Greek economy continues to implode (youth unemployment over 50%, one in ten Greek youth looking for jobs abroad, Greek GDP fell 7% in 4Q11)
4) This Second Bailout was indeed a “Credit event” which the markets have yet to discount (though German investors are already lining up litigation)
5) Germany’s finance minister has already admitted Greece may need a third bailout.
Anyone who thinks that Greece is better off, let alone “saved” is out of their minds. The Euro may have been saved for a few more weeks/ months. But Greece is in worse shape than ever.
Indeed, if anything, the Greek situation has made it clear that the whole “give up fiscal sovereignty and implement austerity measures in exchange for bailouts” formula is a waste of time and money. Let’s take a look at the progression here.
1) Greece claims it doesn’t need a bailout at all (January 2010-March 2010)
2) Greece begins to ask for a bailout (April-May 2010)
3) Greece gets a bailout equal to 57% of its GDP (May 2010)
4) Greece posts a GDP of -4% in 2010
5) Greece announces it won’t be able to meet budget requirements/ payback the first bailout on time and asks for an extension (January-February 2011)
6) Greece asks for another extension (May 2011)
7) Talk of Second Greek Bailout begins (July -October 2011)
8) Greece posts a GDP of -6.5% in 2011
9) Second Greek bailout announced/ finalized (February/March 2012)
10) Talk of third Greek bailout begins (March 2012)
No other EU country could look at this progression and think “this looks like a good approach.” Indeed, Spain and Italy must be watching what’s happening in Greece and asking themselves whether they want to go through this whole process of negotiating for bailouts via austerity measures.

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