Posts

Showing posts from June, 2010

Why Austerity Programmes across Europe will Bring Disaster...

The fashion for budget cutting has now run all over Europe - including the French. And the English have gotten into the act too. So far, the biggest cutters are still the Germans, with a proposed €80 billion austerity programme over the next four years. The European Central Banker, Jean-Claude Trichet, raves about it and so does Ms. Merkel, the German Chancellor.

I wonder why. These are presumably savvy, educated people with a head on their shoulders, or are they? Haven't they read Keynes? Haven't they heard about the Great Depression and how Roosevelt didn't manage to get out of it? In 1937, he reversed his Keynesian-inspired expansion policies because they cost too much to the budget. To get out of the Great Depression, America had to wait for World War II and the extraordinary level of government war expenses.

Before the Great Recession came along - I mean before 2008 - I can understand that Keynes might have been considered passé. Those were the days of the real est…

A medieval chicken soup

No, it's not another comment on the Euro crisis, the Middle East situation or the mess in Belgium (though it could be!). It's just a plain, simple recipe, far away from Nouvelle Cuisine and inspired from an older time than Escoffier and classical cuisine - much older, the Middle Ages actually.

Two years ago, as we spent a couple of weeks in Touraine going around all the various Renaissance castles and gardens, I came across some neat restaurants serving medieval cuisine (or so they pretended!). I was so intrigued that I picked up a couple of cookbooks about medieval cuisine to study it.

Fascinating! Not everything our forefathers ate six hundred years ago is good or in line with contemporary tastes but it's worth digging into.

It would seem that much of medieval cuisine was characterized by a lavish use of meat broths variously done and lots and lots of herbs. And for making sauces, medieval cooks tended to use bread as a thickener rather than wheat flour as we do now. Ch…

The Latest Fashion in Economics? Cut the Budget!

The Greeks started the ball rolling. They weren't actually the first to adopt an austerity programme in Europe, the Irish were. But the Irish austerity policy created no waves. Somehow the Irish people accepted the fact they had to tighten their belt - maybe it's the Catholic in them. They know there's a time for everything, after abundance comes famine. The Greeks, being loud Mediterraneans, were far more vocal about it. They went on a wild rampage and managed to attract world attention. They gleefully burned down shops and banks in Athens, killing in the process a few hapless employees. That unfortunate event seems to have calmed them somewhat, but the damage was done. It added (greek) pathos to the proceedings, and helped ensure that austerity programmes came to the fore everywhere in the world media. Balancing the budget became the mantra across Europe. The only way to save the Euro, the only way to defend sovereign debt.

In truth, a fashion had been started. A trend …

The Saga of the "Peace Flotilla" that set out to force the Gaza blockade...

Once again, we are treated to another round of calamities in the Middle East. Whenever the Palestinians do something ghastly, like blow up an Israeli schoolbus or throw a bomb in a market full of innocent civilians, your sympathies inevitably and rightly go to Israel. But you can be sure that the Israeli will do something equally reprehensible the next time around. Like build more settlements in occupied territory or launch an attack on Gaza killing women and children, and your sympathies swing again and go to the Palestinians.

This time (we've all read about it) a bunch of ships loaded with humanitarian aid - reportedly some ten thousand tons of medicines, toys and building material - and with six or seven hundred pacifists aboard, sailed towards Gaza in an attempt to force the Israeli blockade. As expected it was stopped dead in its tracks by the Israeli military.

This episode might have passed unnoticed - several such ships have tried to force the blockade before - if the Isra…