© 2019 by Henry Thornton. 

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October 30, 2016

Sydney Dance Company

Untamed


SYDNEY DANCE COMPANY: UNTAMED

The spectacle of contemporary dance shared with a lovely friend on a dazzling Spring day in Sydney is one of life’s nicer treats; particularly when the approach to Roslyn Packer Theatre has you winding round Sydn...

October 22, 2016

Sublime ‘Heavenly Voices’ at St Mary’s Cathedral, Sydney

Great works from the Renaissance and Baroque

Giovanni Gabrieli (1557-1612)                             Jubilate Deo

Dieterich Buxtehude (1637-1707)...

October 18, 2016

The Nobel Prize in Literature 2016 has been awarded to Bob Dylan "for having created new poetic expressions within the great American song tradition".

Hmmmmmmmm.  I think that my vote would have gone to Leonard Cohen or Patti Smith had I known the criteria for contestan...

October 9, 2016

Horses in the Sky  

Choreography, Stage Design & Lighting: Rami Be'er
Music: S. Endresen, C. Wallumrod, H. Stern, Bjork, Fuck Buttons, Krieg und Frieden, A. Desplat, Olafur, Faultline, Eleni, J. Carpenters, Murkof, Alejandro Therasi, A Silver, Mt. Zion
Sound Editing: Ra...

October 2, 2016

A Midsummer Night’s Dream by William Shakespeare

Hot enough to wilt the wildflowers

I can’t imagine anyone who has seen A Midsummer Night’s Dream would be surprised that a somewhat darker version might be curiously appropriate.  Puck has always seemed to me to be capable...

August 13, 2016

So much damage to such a vulnerable cross-section of our global village was probably the thing that stayed with me after viewing World Press Photos 16 at Brisbane’s Powerhouse. Though this exhibition included more than just those resonating and candid shots of children...

August 12, 2016

Broken by Darwin playwright Mary Anne Butler starkly highlights love, death, grief and the randomness of life’s path.
 

Having literally no set surrounding the intensity of emotions being conjured on stage in Broken is probably the next best thing to having the infinite...

August 1, 2016

Written by Angela Betzien. Directed by Sarah Goodes.

The Hanging makes frequent allusions to the iconic Joan Lindsay book/Peter Weir film Picnic at Hanging RockThe Hanging's school girls however are modern-day girls who run away from a highly prestigious boarding scho...

July 24, 2016

Love and Friendship.


Adapted from Lady Susan, a novella by Jane Austen. Director: Whit Stillman

Love and Friendship is based on a novella written by a 19-year-old Jane Austen.

Financial security is definitely the theme that dominates Love and Friendship, for in Austen’s...

September 25, 2015

Embrace of the Serpent

Directed by: Ciro Guerra 

Written by: Ciro Guerra, Jacques Toulemonde

'Embrace of the Serpent' is one of those old fashioned movies made for people with attention spans. Shot is black and white, this Columbian film is a glorious anthropological adve...

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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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