How does extracting gas and burning it differ from buying the same gas extracted from the same field, from Norway? Apart from the U.K. profits and resultant tax revenue? (View Post)

We had a budget deficit before the crash. Afterwards it ballooned to more than 10% of government spending. A budget deficit like that is unsustainable, even in the short term. This is why austerity h… (View Post)

Theory - the Emperor in 40k is actually hanging on to pass the ever rising pension age. (View Post)

The U.K. banks were buying the derivatives because proper risk analysis was deprecated. Regulation on risk could have tapered down the positions. I was working on a contract in ABN - IT working on de… (View Post)

Riding a bubble in derivatives, which set us up for 2008 And he was warned - there were papers being published by the Bank of England research unit that pointed out the inevitable result of risk corr… (View Post)