A thought experiment imagining that the government is a bank (or more accurately a long only hedge fund). This is not far-fetched given the highly leveraged balance sheet shown in the annual Statement of Assets and Liabilities.
Yesterday I wrote about the PAP government’s willingness to bail out the Eurozone with generous contributions to the IMF’s lending facility (http://sonofadud.com/2012/04/25/659/). Yet a US$4 billion loan (which represents more […]
Recently the Spanish King was in the news after it was discovered he had been shooting elephants in Botswana. The outrage was not sympathy for the elephants but the discovery […]