Be it the United States or the European Union, most Western countries are so highly indebted today that the markets have a greater say in their policies than the people. Why are democratic countries so pathetic when it comes to managing their money sustainably? This clear, well-written essay in Der Speigel lays out the current debt crisis - along with current, proposed solutions - in an understandable manner. Not included among the so-far-proposed solutions is one other that has opened up a veritable financial market and debt Pandora's Box - i.e. a central bank debt jubilee.
78 78s - In Search Of Lost Time - is a streaming mix of beautiful 78s from around the world, collected and curated by Ian Nagoski. "I started sifting through boxes of junky old 78s that no one else wanted about 15 years ago, and almost right away, I made a rule: Anything that wasn't in English, buy it." [more inside]
The Guardian ran a series of articles looking at the state of high-speed rail travel today. France intends to double its length of track over the next decade, and China is planning a massive rail-building programme, including a high-speed line which will halve the travel time between Beijing and Shanghai to 4 hours. In Germany, domestic air travel is rapidly going extinct, and Spain's network has made day trips between Madrid and Barcelona a possibility. The USA, which has long neglected its rail network, is planning up to 10 high-speed lines. Meanwhile, Britain's only high-speed line goes to France, but there is talk of a 250mph line from London to Birmingham and beyond, possibly by the early 2020s. Meanwhile, the CEO of France's rail operator, SNCF, weighs in on what the UK should do.
The world's oldest family companies start with a 1,400 year old Japanese family business that has always built Buddhist temples. On the corporation side, only one of the great chartered companies survives, Canada's Hudson Bay Company, founded in 1670, and now a large retailer, though there may be much older corporations. There is even a club with an interesting web site, Les Hénokien, for companies that are over 300 years old. If companies aren't your thing, there is always the world's oldest restaurant in Spain.