Although I don’t normally put anything finance-related on this blog, I am making an exception for this Vanity Fair piece by Michael Lewis, Beware of Greeks Bearing Bonds, as he manages to explain about the debt crisis to non-business page readers. Someone on the radio recently said that Lewis is so good he makes you want to give up journalism and I have to agree.
” The national railroad has annual revenues of 100 million euros against an annual wage bill of 400 million, plus 300 million euros in other expenses. Twenty years ago a successful businessman turned minister of finance named Stefanos Manos pointed out that it would be cheaper to put all Greece’s rail passengers into taxicabs: it’s still true.”
– this Washington Post article caught my eye for its comments on the US-Anglo divide and why austerity appeals to Brits:
“Austerity is what made Britain great. Austerity is what won the war. It cannot be an accident that several British television channels are running programs this year with titles such as “Spirit of 1940,” all dedicated to the 70th anniversary of that “remarkable year” of rationing, air raid sirens and hardship.
Sometimes the depth of the Anglo-American cultural divide reveals itself in unexpected ways, and this is one of those moments: No cooking show featuring corned beef hash and powdered eggs would stand a chance in the United States.
Nostalgic Brits, longing to re-create their country’s finest hour, remember postwar scrimping and saving. Nostalgic Americans in search of their own country’s finest hour remember postwar abundance, the long consumer boom — and, yes, a time when even instant gratification wasn’t fast enough.”
– another article on cultural divides highlights the US Marines sending all-female units into Afghanistan with the explicit mission of communicating with women;
– just for fun : 11 longest words in the English language;
– just for beauty: Life slideshow of food photography.
Off home to England and to visit my brand new nephew in Madrid so no blogging for 2 weeks.