 | Grangemouth/Forties Update: Forties pipeline remains shut down (Thread 2) | The Oil Drum | Forties - Grangemouth: the failure of a complex tightly coupled system |  |
| Grangemouth/Forties Update: Forties pipeline remains shut down (Thread 2) | The Oil Drum: Europe | Forties - Grangemouth: the failure of a complex tightly coupled system | |
20 comments on Grangemouth strike: Anglo Disease in action?
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20 comments on Grangemouth strike: Anglo Disease in action?
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New in the Wall Street Journal
Has the Financial Industry's Heyday Come and Gone?
It has taken an amazingly long time for the world to figure out that finance is a very small piece of what businesses need to know. The world still hasn't figured out that quite a bit of what people in finance think they know is based on the infinite growth paradigm, which unfortunately isn't true over the long term.
TPTB will only give up the 20-25% rates of return they get on these financial dealings when you pry them from their cold, dead hands. Or possibly when all the central banks run out of money to bail them out.
I cannot agree strongly enough with the original post framing this as an especially Anglo problem. Control over the mass media in Anglo countries has allowed TPTB to drive the consensus rightward to the extent that workers demanding basic benefits are now demonized.
Hi Gail,
it will be 'interesting' to see the impact of this on the UK if it does happen as we are highly leveraged to this Industry. As manufacturing has declined and oil/gas has ebbed, finance is pretty much the only bright spark GDP wise in an otherwise increasingly darkening outlook.
Having said that though the UK is in a good position to enable all those Petrodollars flooding in to be re-distributed into other assets so I wouldn't write us off just yet... [Think: ME, Russia, India, Hong Kong/China]
Nick.