Awesome
The Spectator
Thursday
Forget Wall St. The Wolves of Whitehall caused the crash – and could do so again
This week, Martin Scorsese’s film The Wolf of Wall Street opened and the Office of National Statistics reported that house prices are up by 12 per cent in London and by 5 per cent across the UK as a whole. While the former represents the cocaine-fuelled greed of bankers, which many like to think caused the financial crisis in the first place, the latter represents a wider form of greed which has even more to do with the problems that have afflicted the world from 2007 onwards. The Wolf of Wall Street is no fantasy. While the behaviour of the antihero, Jordan Belfort, has been ratcheted up for the purposes of Hollywood, the story reflects a genuine sickness at the heart of high finance: its tendency to attract, and tolerate, psychopaths.
Spectator letters: On the Pope, Jesus and Mandy Rice-Davies
Papal blessing Sir: In his excellent article on Pope Francis (‘Pope idol’, 11 January), Luke Coppen mentions the satirical rumour that the new pontiff had abolished sin. It could never be said, however, even in a spoof, that he has abolished the Devil, whom he has named and shamed on a number of occasions. What Coppen calls ‘the cockeyed lionisation of Francis’ is surely itself a trick of the Devil: so too the ‘older son problem’ — the disgruntlement of obedient Catholics at Francis’s embrace of sinful prodigal sons and daughters. Virtue is surely its own reward, and no one who has experienced grace hankers after the fleshpots of Egypt.
Portrait of the week | 16 January 2014
Home David Cameron, the Prime Minister, said that English local authorities would be allowed to receive all the business rates collected from shale gas schemes, not just the 50 per cent they’d expect. Total, a French company, said it would invest about £30 million in drilling two exploratory wells in Lincolnshire. To head off higher borrowing rates, the government announced that ‘in the event of Scottish independence from the United Kingdom, the continuing UK government would in all circumstances honour the contractual terms of the debt issued by the UK government’. The annual rate of inflation, as measured by the Consumer Prices Index, met the target set by the government for the first time since November 2009, when it fell to 2 per cent (from 2.
A successful obesity campaign? Fat chance
Fat chances The National Obesity Forum said that Britain is reaching a ‘doomsday scenario’ where half the population is obese. What happened to previous government campaigns to tackle obesity? — Between 1997 and 2008 the percentage of men getting the government’s recommended level of physical exercise grew from 32 per cent to 39 per cent, and women from 21 per cent to 29 per cent. And yet over the same period the proportion of men who are overweight or obese grew from 62.2 per cent to 65.9 per cent and women from 52.5 per cent to 56.9 per cent. — In 2006 28 per cent of men and 32 per cent of women were eating the recommended five portions of fruit and vegetables a day.
