© 2019 by Henry Thornton. 

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June 23, 2019

Anatomy of a Suicide

Presented by Sugary Rum Productions in association with Red Line Productions

Written by Alice Birch

Director: Shane Anthony

Firstly, ‘Anatomy of a Suicide’ is beautifully written. Alice Birch is a gifted writer. She exposes life with the understanding...

June 16, 2019

The newly presented work in Bangarra’s 30 year career amazing audiences through story-telling choreography and Bangarra's unique perspective is, intriguingly, the company's interpretation of Czech choreographer Jiří Kylián‘s ‘Stamping Ground’. It is extraordinary...

June 10, 2019

TOLKIEN

Director: Dome Karukoski

  

When I watched James Kent’s ‘Testament of Youth’, an account of how the First World War ripped out the heart of an entire generation I couldn’t stop crying. Is was not just the wasted lives of those beautiful young people but also...

June 2, 2019

Rocketman

Director: Dexter Fletcher

Written by: Lee Hall

Striding down the white and pristine corridor of a sober institution and shedding feathers everywhere, we first encounter Elton John dressed in an orange sequined body suit, oversized wings, a horned headdress and d...

May 13, 2019

William Yang Party (verb) and Archibald, Wynne and Sulman Prizes 2019

A weekend in Sydney of mixed wonders.

I was privileged to be the ‘+1’ of a dear friend at the ‘William Yang PARTY (verb)’, a  photographic exhibition and event at Sydney Opera House last Saturday night...

April 28, 2019

Mosquitoes

By Lucy Kirkwood

Director: Jessica Arthur

Starring: Jacqueline McKenzie, Mandy McElhinney, Charles Wu, Jason Chong and Annie Byron

Lucy Kirkwood is a playwright/alchemist who tackles contentious themes in both art and science and dazzles us with brightness.

I was...

April 14, 2019

Jean-Paul Gaultier: Freak & Chic (France, 2019)

Director: Yann L’Hénoret

See the documentary ‘Jean-Paul Gaultier: Freak & Chic’ and all you’ll want to do is watch the stage show. Unfortunately, it is in Paris so you need to be keen …

Gautier was one of the celebrity fashi...

March 31, 2019

Sydney Dance Company

Bonachela / Nankivell / Lane

A celebration of fifty years of Sydney Dance Company! My first dip into the wonder was Graeme Murphy’s ‘Poppy’ – a wild and wonderful performance that referenced the works and sensibilities of Jean Cocteau. Almost thirty...

March 17, 2019

Sometime Always Never

Directed by Carl Hunter

Coming from a Scrabble crazy family I thought this movie would be a funny take on the competitiveness of family board games. You know, when perfectly reasonable and moral human beings believe it is completely OK to cheat, ste...

March 10, 2019

After Nature - Janet Laurence

I vividly remember visiting  Janet Laurence ‘In Memory of Nature’ in 2010 at the Art Gallery of New South Wales and being overwhelmed by the exhibition's beauty and sadness. All these glorious specimens of nature – leaves, corals, crystals,...

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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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