Pictorial comments on the current state of the US and UK economy

My notes on "Captain Corelli's Mandolin" are extensive and will take longer than first thought. In the meantime here are a couple of topical images on events in the financial world. The Northern Rock is the first high street bank to encounter such difficulties since the 1930s. There will be more to follow. I've lost count of the number of US mortage banks that have folded in the last 18 months. The derivative timebomb of toxic CDOs is going off in a slow motion explosion that will last for years. It will result in the massive transference of wealth from the ignorant and complacent to the knowing. The political consequences will thus be very far reaching. Click on the images to make them bigger.

Some of the best readers of this crisis such as James Sinclair think that injections of liquidity by the central banks will cause everything to inflate from here, from stockmarkets to gold. Just as it did during the Weimar Republic. It's an interesting point. We'll see.