While many U.S. banks still have leverage ratios that are 10 times their assets, the banks of Germany have a leverage ratio 32 times their assets, and French banks are leveraged 26 times their assets.
No wonder the banking sysytem\’s in the crapper. The bloke responsible for the regulation of them for over a decade doesn\’t know the difference between a bank\’s assets and its capital.
Either that or the WaPo has some really grossly incompetent editors.
And this is even worse:
A continent that was once responsible for 40 percent of the world’s output is now producing only 18 percent — and within a decade it will produce little more than 11 percent. This is an epic shift, yet one virtually unnoticed. What Europe is experiencing may prove to be a permanent and irrevocable loss of prosperity.
We don\’t care about the portion of the globe\’s production that we produce. Not at all, not in any way. We don\’t even really care about what portion of the world\’s production we get to consume. We do however care about how much we get to consume.
And what he\’s taling about here is a fall in that portion of the world\’s production that we are able to consume, not a fall in what we are actually avble to onsume. Good God, the man\’s complaining that the third of the human race that inhabits China and India (add Indoneisa if you want to be accurate) is getting close to three squares a day.
What? I thought we wanted the poor to get rich?
That last I\’m sure is G Brown\’s fault….willing to give him a pass on hte first because that could be the fool editors. But if I were him I\’d get the to change it fast because it makes him look like and ignorant fucking fool.