As we know it

There is an enormous difference between ‘the end of the world’, and ‘the end of the world as we know it’. The former has never happened, at least in recorded history, although Noah apparently got pretty close. The latter happens with remarkable regularity, although most people tend to deny even the ex ante possibility, let alone the ex post fact. […]

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Coupling

 Will Asia decouple? Will Europe recouple? Can Canada uncouple? These are the kind of subjects that financial analysts are hot about currently. But don’t get excited – it’s not what your dirty mind is thinking. In fact, it’s about as far removed from sex as you can get. There’s no passion and certainly no emotion in any of it, although […]

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The almighty shekel

This week, the shekel reached its highest value against the US dollar in almost ten years, at about 3.78 shekels to the dollar. The seemingly relentless rise of the Israeli currency was interrupted on Thursday afternoon, when Bank Hapoalim shocked the local market by announcing another massive write-off of securitised American loans that it had unwisely invested in (so-called subprime, […]

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