Author: [email protected]

Is Boris Johnson’s Optimism about London’s Financial Centre Justified?

In his first trip to the US, Boris Johnson, Britain’s new Foreign Minister and a leader in the Brexit campaign, claimed that UK financial firms will keep EU ‘passporting’, which allows banks to sell their services to clients across the EU. He claimed that the “City” (as London Financial district is called) offers the deepest pools of liquidity, talent and skill for the capital formation needs of businesses across Europe (Julian Ambrose, in Daily Telegraph, July 23rd).

The “talent and skill” is crucial. As someone who was brought up in the UK, I cannot shake the suspicion that, for every financial whizz-kid in the City, there are ten upper-class twits (good example of an upper-class twit – John Cleese in the Monty Python sketch “The Ministry of Silly Walks”).

Is Johnson’s optimism justified? Several reasons suggest that it is not: Continue reading “Is Boris Johnson’s Optimism about London’s Financial Centre Justified?”

Not all “One-Percenters” are Equal

There has been much talk of the top “one percent”. It makes for great slogans, but putting the top 1% (whether by income or by wealth) into a single group is an over-simplification. When hearing about the “one-percent”, most people immediately think of Bill Gates, Warren Buffet and Carlos Slim. However, in a recent article about US millionaires, the Economist stated that the average millionaire drives a Ford. This apparent contradiction needs to be resolved.

Within the “one-percent” there is a distribution of incomes/wealth which approximates to a log-normal distribution i.e. increasingly fewer members the higher up the scale you go.

In fact, the top 1% can be divided into six distinct groups. Based on wealth, over and above their principal residence, these are: Continue reading “Not all “One-Percenters” are Equal”

Understanding Jeremy Corbyn

For those who do not follow British politics, Jeremy Corbyn is the leader of the Labour Party and, as such, is the leader of the opposition in the British parliament.

Jeremy Corbyn has had a difficult start as leader of the Labour Party. He has floundered on a number of issues such as anti Semitism in the Labour Party and more recently, his support for Britain remaining in the European Union (EU) has been weak and lukewarm, even though the party is strongly pro-remaining in the EU.

The key to understanding Jeremy is his academic record. At A-levels (equivalent of Grade 12 exams) it is normal to take three subjects.  Corbyn passed two with E grades[which is the lowest pass mark] and presumably failed the third.  He then went to the North London Polytechnic  college to take Trade Union studies and flunked out after one year.  This shows that Corbyn has limited intelligence, certainly lower than the intelligence required the lead the opposition in parliament, or potentially to be a future Prime Minister. Continue reading “Understanding Jeremy Corbyn”

INTRODUCTION

I am starting this blog because I believe I have insights, views and opinions which are not expressed elsewhere, whether in the media or by other commentators. My main items of interest are:

  • Climate change
  • Current events
  • Economics
  • Canadian Issues

Future topics on this blog include:

  • Does Brexit doom London as a Financial Centre?
  • Understanding Jeremy Corbyn
  • Where will Putin strike next?
  • What does the data say about global warming?
  • The elites in the West are under attack – what are the issues they are not addressing?

The following describes my attitudes and credentials on the main topics: Continue reading “INTRODUCTION”