Reading List: The Idiot

1st November 2011

The Idiot's Guide to the S&P Downgrade

Earlier this year the S&P downgraded the US dollar AAA rating to AA+. Here's an infrograghic to show what this grade letter really mean for consumers and citizens. Submit Infographics


UK Q3 GDP growth better than expected

Adam Clifford of William Albert Securities reacts to today's GDP figures which show that the economy grew by 0.5% in the third quarter. "This better than expected figure will provide a flicker of hope to some, but is likely to be short-lived." The Telegraph


No big deal

Madsen Pirie on European bailout deal: "It isn't enough and it won't work. They are trying for political reasons to escape what economic necessity dictates. They will not admit they made a mistake in admitting Greece into the Euro." Adam Smith


Greeks have the last laugh: End of the Euro here we come

It may not be too long before the Greeks have a referendum on whether or not they stay in the euro. "The Greek people want control of their own destiny; not to be ruled by the French and the Germans. The country is truly in a mess and it should sort them out – not outsiders." Fintag


The ECB's Battle against Central Banking

"When the ECB announced its program of government-bond purchases, it let financial markets know that it thoroughly disliked the idea. But the ECB's refusal to accept responsibility for financial stability flies in the face of the history of central banking." Project Syndicate


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