But its only when those losses hit that you realise how fast they can happen. So many people will decide they need a bigger financial reserve than they previously thought. Which in turn leads to lowe… (View Post)

Isn't a problem that the USA (and to a lesser extent the UK) has is that if you want to increase household savings that you need to reduce inequality ? There being many millions who cannot increase t… (View Post)

Irrespective of how much financial damage to individual people there's also what I would term financial scarring. By this imagine if your financial assets fell by $20k for a couple of years and then … (View Post)

On a different issue have you ever read Eastern Approaches by Fitzroy Maclean: https://en.wikipedia.org/wiki/Eastern_Approaches Its very interesting about 1930s Samarkand and Bokhara. (View Post)

You think the poor are starving ? Obesity is highest among the poor. Grotty takeaways abound in deprived areas. Talk to a school dinner lady about how much free food is given to the poor and you'll b… (View Post)