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  • 2009 Budgets

    It is nearly time for the blog's annual forecast of chemical industry prospects. Of course, past performance is not necessarily a guide to future outcomes. But it is one of the better guides that we have. So before publishing the forecast next weekend, it makes sense to assess the blog's credibility...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-12-2008
  • The last few days

    There are clearly a lot of critical developments at the moment. So I thought it might be helpful to index recent postings: Financial crisis US to follow UK in buying bank shares 'Incompetence and denial' Iceland calls in IMF Europe, N America, China cut interest rates The zeitgeist continues...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-10-2008
  • US to follow UK in buying bank shares

    Winston Churchill, a long-standing friend of the USA, once irritably but acutely observed that 'one can rely on America to get to the right conclusion, when all other options have been exhausted'. So, hopefully, it will prove with the financial crisis. Tonight, Bloomberg and the New York Times...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-09-2008
  • Iceland calls in IMF

    As the blog predicted , Iceland has been forced to call on the IMF for help. Finally, the country's leaders have recognised that their $20bn economy couldn't support the level of debt built up during the 'go-go' years. The pity is that it took them so long to recognise reality - and by...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-09-2008
  • The zeitgeist continues to change

    The German word 'Zeitgeist' describes 'the ethos or mood' of a select group of people. Back in Januar y, the blog noticed that the financial zeitgeist was clearly changing. Today brings another example, from the Wall Street Journal , normally a cheerleader for the financial community...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-08-2008
  • UK part-nationalises its major banks

    The UK is to invest £50bn ($85bn) to rescue its major banks, via part-nationalisation. In addition, it will provide unlimited amounts of cash via loans. The aim is to try and unfreeze the UK's banking system, which has been on the verge of collapse. Unlike the USA, there is no disagreement amongst...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-07-2008
  • The Swedish model

    The blog has given up counting the number of US banks that have failed in recent weeks, away from the headlnes. Ken Lewis, CEO of Bank of America, predicted last month that half of all US banks would fail, and he is well placed to know. Bank rescues are also rising across Europe. The German government...
    Posted to ICIS Blogs (Weblog) by Anonymous on 10-06-2008
  • 5 key questions about the US bailout

    The proposal now before Congress to authorise the spending of $700bn to bail out Wall Street contains just 849 words. It avoids the need to go into further detail via its suggestion that the Treasury Secretary should simply have unlimited authority to act as he 'deems necessary'. But 5 key questions...
    Posted to ICIS Blogs (Weblog) by Anonymous on 09-21-2008
  • The global stock market decline

    Alan Greenspan's comments ( below ), led the blog to investigate how the world's major stock markets had moved since their recent peaks. All, as shown in the chart, are now in bear markets. Stock markets often forecast economic developments 6 - 12 months ahead, and so this represents a negative...
    Posted to ICIS Blogs (Weblog) by Anonymous on 09-18-2008
  • UK's largest mortgage lender rescued

    Another day, another rescue. This time on the other side of the Atlantic. HBOS, the UK's largest mortgage lender, with a 20% market share, announced this morning that it was being rescued via a merger with the Lloyds TSB bank. The deal was brokered by the UK government. UK Finance Minister, Alastair...
    Posted to ICIS Blogs (Weblog) by Anonymous on 09-18-2008
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