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Showing posts from January, 2009

Against the euro the pound was down; against the kilo the pound was also down

After the fall of the pound (£), the toll is not closed yet. With less £s in their pockets, Britons will be traveling less and for shorter distances. This has caused an increase in the use of decimals for measuring distances, which may precipitate the devaluation of the mile. A spokesperson for the Institute of Preservation of Britishness declared, "even if the mile drops below the kilometer it will still be our measure of distance. And the good news is that this year fewer of us will go through the awkward experience of driving on the right lane". But there are more bad news. The government is considering, in order to avoid inflation, to deflate the values of the pound (lb) and the pint. This way, for the same amount of money, we would be able to buy the same nominal weight of mince and volume of milk and beer. Questioned if the change was mere cosmetics, the chancellor of the exchequer replied "as long as we have our own instruments of measurement we will use them as t

Understanding the financial crisis

An interesting account of the people and places stirring the financial world from London. It's on BBC TV and can be watched here . Beautifully shot which in this case helps in making the complexities of the financial world understandable.