What A Thing To Write About

In the "Legal History" section of a second-hand book website, there is a copy of the report of the Longford Committee Investigating Pornography, a radical committee made up of MPs, prominent members of the public, and various others. They published this (I think) in the 1970s. What amused me was the description of the condition of the book:

Cover slightly grubby & a little creased at corners, pages slightly browned at edges.

Considering the subject matter, quite appropriate really!

A Twist On An Old Favourite

Are spam e-mails not quite amusing?

Attn: Beneficiary,

I found your name in the Central Computer among the list of unpaid (Contractors, Inheritance next of kin and lotto beneficiaries that was originated from American, Europe, Asia plus Middle east and Africans) among the list of individuals and companies that your unpaid fund has been located to the Standard Chartered Bank, HSBC, Barclays Bank, Natwest Bank, Bank of America, Eco Bank Nigeria plc and CBN Plus ATM payment. Your name appeared among the beneficiaries who will receive a part-payment of US$15.5 million and has been approved already for months. You are requested to get back to me for more direction and instruction on how to receive your fund. 
 
However, we received an email from one Dr. Robert Walter who told us that he is your next of kin and that you died in a car accident last week. 
 
Dr Robert Walter account co-ordinate as follows:
 
Bank of Lebanon

Beneficiary: Dr Robert Water 
 
He has also submitted his account for us to transfer the fund to him. We want to hear from you before we can make the transfer to confirm if you are dead or not. Once again, I apologize to you on behalf Of IMF (International Monetary Fund) failure to receive your funds in time, which according to records in the system had been long overdue. contact me via my email address:  
Yours Sincerely,
 
 
Finance Department Director 
International Monetary Fund. IMF

Apart from the dodgy grammar in places, it was a novel idea. This is the first message I have received with someone "claiming" to be next of kin, when in fact he is not. Normally, you are labelled as next of kin of a deceased relative, email me your bank details to collect your fund, please. The end is the same, but the means of getting there is different. Note how my next of kin's name changes in the two times it is mentioned. If Dr Walter/Water is reading this, he can have my share of the $15.5m.

What Rock-Bottom Interest Rates Means To Me

Absolutely nothing.

Let me explain. Over the summer, I set up a fixed 6% interest ISA, meaning that even though interest rates are now at 2%, I will continue to get 6% until August 2009. So in real terms the value of my bank account will not dwindle, and give me a little windfall of about £20. We're not talking about substantial amounts of money here. I must add that this outcome was a matter of pure luck, rather than strategic economic investment!

However, low interest rates make the pound less attractive to foreign investors, so when we go abroad, we will be able to buy less with our pound.

Higher interest rates also control inflation better, but I'll refer you to an economist for the precise mechanics of how (I haven't the foggiest).

What is the best level of interest rates? That which keeps inflation reasonable and doesn't start a run on the pound.

So interest rate policy should consist of a series of targets for inflation and strength of the pound, and we should tailor the interest rates to meet these targets.

That is, in esccence,  the fiscal policy of the Bank of England, as a non-economist understands it. Simple, isn't it?