“According to standard, Gaussian statistics, the universe is nowhere near old enough to make a one-day event of greater than 20 standard deviations likely, yet one occurred on October 19, 1987. Was it just phenomenally bad luck that several trillion more years had not passed before the Crash occurred?”
“I love deadlines, I love the whooshing noise they make as they go by” – Douglas Adams
Quantitative Wheezing.
When on 15 September 2008 the news broke that Lehman Brothers had filed for the largest Chapter 11 bankruptcy in US history I knew that financial war had been declared. Although I had no idea what the full consequences might be I had a greedy need to learn and a gut feel that only by recording the most salient events to come would this need be assuaged.
For a full year from October 2008, I assiduously logged events until QE, T1 ratio, monetary and fiscal stimulus and those funny packaged debts mingled with the cornflakes for breakfast. Quantitative Wheezing tells the story of how this crisis year unfolded. It objectively and in plain English shows how we were all taken for a ride by a load of greedy people whose legacy to our grandchildren will be no less destructive than the events of 1939 and the years that followed.
There’s more to this website though, and as you explore the various sections I’m confident you’ll find plenty to keep you informed and sometimes amused.
