The next wave of quantitative easing (QE) will be different, credit spreads will be controlled. The Federal Reserve (FED) may continue to tighten but few other central banks can follow. The European Central Bank (ECB) balance sheet reduction might occur if a crisis does not arrive first. Interest rates are likely to remain structurally lower than before 2008.
She was conned out of her life savings—perhaps it was a lawyer representing a banker in Togo, or a rich Nigerian benefactor. Perhaps it was someone claiming to be dying from cancer, or a contractor insisting she needed a new roof; perhaps it was promises of incredible returns on investments for a doomed-to-fail startup that sold cell phones or other tech du jour. Perhaps it was Bernie Madoff, or Tim Durham, or dozens of their friends and ilk who partied with them over the years on their hooker-filled junkets in Vegas or turned blind eyes as they huddled around craps tables with them while they knowingly snickered about the rubes.
Guilds played an important role in the economies of Europe from about the 11th century up through the 16th century, and a continuing if less important role up into the 19th century. Sheilagh Ogilvie, the go-to economic historian on this subject, has a new book out called The European Guilds: An Economic Analysis (published by Princeton University Press and of course available on Amazon, too). For a flavor, here are some comments from the opening chapter:
We categorize everything, from subgenres of music to which foods are the healthiest. But most categorization occurs between generational differences in the workforce and what success means to both, especially in manufacturing.
To be candid, I was getting worried about this HIMSS conference. There were abundant presentations and exhibits but at least for me, they seemed too theoretical or too technical. Many were at the 30,000 foot level. Many were engineer driven. The words “interoperable,” and “silos” and “coordinated efforts” and “shared efforts” were repeated again and again.
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