By Chris Becker
The average African’s time preference will need to change if Africa is going have the capital and investment funds necessary for the transformation into a manufacturing hub. But with a tradition of mismanaged currencies, negative real interest rates, and rising consumer credit there is a strong anti-saving mentality in place.
Since the financial crisis in 2008/09 the Federal Reserve has printed trillions of dollars and purchased assets with them, mostly US government bonds and mortgage-backed securities. This has caused the assets on the Fed’s balance sheet to swell by around $2.5 trillion since the collapse of Lehman Brothers. Operations of this magnitude have caused the [...]
By Russell Lamberti On January 15 2013 it came to light that beef being sold in some major British supermarkets contained horse DNA. What has followed has been one of the great food scandals of our time, as major name brands across Europe were discovered to have been selling beef diluted with cheap horse and [...]