© 2019 by Henry Thornton. 

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November 3, 2019

The Marriage of Figaro

Mozart

Rom Com 17th Century-Style

Figaro's (Paolo Bordogna) outrageously imaginative solutions to his and fiancée Susanna’s (Stacey Alleaume) romantic dilemmas form the core narrative of ‘The Marriage of Figaro’. This operatic romp about sex and pol...

October 27, 2019

Natives Go Wild

Conceived and Written by Rhoda Roberts AO

Director Chelsea McGuffin

'Step right up into a wild world of mystery. A mistold tale of circus and wonder. A twisted history unleashed, and a famous freak show unmasked. Be enraptured by the dark truth of P.T. Bar...

October 20, 2019

White Rabbit – Then

Sweeping social change at the end of the 20th Century meant that Chinese artists at the start of the 21st  found themselves in a world that had been utterly transformed …


The artists of this period exploded with provocative creativity, celebrating a...

October 13, 2019

HAIR: 50th Anniversary Australian Tour

Memory of your passionate youth gets a standing ovation.

HAIR, the American Tribal Love-Rock Musical is 50-years old. The stage show has been playing in an odd mix of venues across Australia.

The majority of people in the audience at...

October 7, 2019

Joker

Directed By: Todd Phillips

Written By: Todd Phillips, Scott Silver

There are some cultural icons you feel should hit the earth as they intend to continue.

As far as the ‘Joker’ goes, that would be as the delivery of a psychopathic baby in full grease paint with an hy...

September 29, 2019

Birds of Passage

Director: Ciro Guerra and Cristina Gallegos

Did you see Director Ciro Guerra’s film ‘Embrace of the Serpent’?

It was an extraordinary film – like a reversal of 'Heart of Darkness' – where the ‘gringos’ push into the Amazon region seeking rubber ‒ and then...

September 22, 2019

Sydney Theatre Company presents The Real Thing

Written by Tom Stoppard

Directed by Simon Phillips

How many centuries have we mortals tied ourselves in knots trying to fathom love?

Tom Stoppard in ‘The Real Thing’ creates playwright ‘Henry’ to fathom that very thing: ‘I don...

September 15, 2019

Sydney Contemporary 2019

I walked into the wonderful space that is Sydney’s Carriagework and Barry Keldoulis ‒ Director of run-away success Sydney Contemporary ‒ is standing at the door smiling gently. On congratulating him, Barry responded “I don’t do much”. The unders...

September 1, 2019

Amazing Grace

Original film footage: Sydney Pollack (1972)

Digitally remastered by Alan Elliott (2019)

I know few women who haven’t blared out a version of Aretha Franklin’s ‘Freedom’, even if in the privacy of their own shower. The songs of the late superstar have captiv...

August 25, 2019

Caroline, or Change

Book and Lyrics by Tony Kushner

Music by Jeanine Tesori

Director: Mitchell Butel

A gospel/rhythm and blues musical in downtown Darlinghurst. Not only is the music glorious but the soul of ‘Caroline, or Change’ resonates with the quest to live a life of...

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NEWS + VIEWS

The next financial crisis ... is inevitable

The weekend AFR's article reporting the GFC work to save our financial system was interesting. RBA chief Glenn Steven is reported as saying something like: 'We flooded the system with liquidity'. (An action recommended by Bagehot all those years ago.)

Coincidentally, this week's Economist looks at the global equivalent under the heading 'Has finance been fixed?'

It concludes: 'Policymakers have made the economy safer, but they still have plenty of lessons to learn. And fracturing geopolitics make globalised finance even harder to deal with. A decade after Lehman failed, finance has a worrying amount to fix.'

Deep within the article is a statement I have not heard before.

'The Fed acted as lender of last resort to the world, offering foreigners $1trn of liquidity.

[other sources say total swaps were more like $ 11 trn]   Since then, offshore dollar debts have roughly doubled. In the next crisis, America’s political system is unlikely to let the Fed act as the backstop to this vast system, even after Donald Trump leaves the White House.'

This is a truly scary remark.

Comments welcome. Contact Henry here.

 

Henry.Thornton@henrythornton.com

Who is Henry

 Henry Then...

"Henry Thornton (1760-1815) was a banker, M.P., philanthropist, and a leading figure in the influential group of Evangelicals that was known as the Clapham set. His 'Enquiry into the Nature and Effects of the Paper Credit of Great Britain (1802)' is an amazing performance. "...it anticipates in some points the analytic developments of a century to come. No other performance of the period will bear comparison with it, though several, among them Ricardo's, met with much greater success at the time as well as later... He was one of those men who see things clearly and who express with unassuming simplicity what they see."


This is the judgment of Joseph Schumpeter, one of the twentieth century's finest economists, in his monumental 'History of Economic Analysis', Allen and Unwin, 1954, p.689.

 

Henry Now...

 

Henry Thornton is the nom de plume of a prominent economist. Like his predecessor the modern Henry Thornton has been a banker and an advisor to M.P.s although he is not a politician himself. He is no evangelist but is keenly interested in a wide range of economic, social and political issues... 
 

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