Not any more

[After Clouseau accidentally reduces a piano to a pile of rubble]

 

Mrs. Leverlilly:            “You’ve ruined that piano.. But that’s a priceless Steinway !”

 

Clouseau:                    “Not any more !”

 

-       From ‘The Pink Panther Strikes Again’ (screenplay by Blake Edwards and Frank Waldman)

 

 

“It is now clear,” wrote the late Hyman Minsky in ‘Stabilizing an Unstable Economy’ (1986, Yale University Press) in his preface to the book,

 

“that output, employment, and prices in advanced capitalist economies with complicated and evolving financial structures are liable to fluctuate. It is also clear that the instability natural to our type of economy has been stabilized since World War II. In particular, even though there have been enormous stresses and strains in the economic and financial system, a collapse of asset values, an uncontrolled epidemic of bankruptcies, and a deep and long-lasting depression have been avoided.”

 

Well, not any more. The latest development in the rolling financial crisis was last week’s shock deterioration in the health of UK life assurers, with shares in the UK’s biggest insurer, Aviva, falling by a third after the company announced a pre-tax loss of over £11 billion. Legal & General shares fell by 29% and those of Prudential by a fifth. Is there any part of the financial services sector that is still uninfected ?

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Comments

[Gold IRA]

Taxpayers deserve better.

[Nexpider]

i agree with you.

[Term Papers]

In particular, even though there have been enormous stresses and strains in the economic and financial system, a collapse of asset values, an uncontrolled epidemic of bankruptcies, and a deep and long-lasting depression have been avoided.

[Custom made term papers]

Beautiful piece of work done, it is quite amazing and interesting though, enjoyed the text. Thank you for the post.