Bite Size Advice. Paul J. Thomas

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СКАЧАТЬ are a combination of economic commentary, thought leadership and financial hints. What ties these seemingly disparate categories together is that they are all written through the prism of a banking and financial services lens.

      Of course, you can’t talk about banking without talking about money since the two are so intertwined. Paul has written about the history of money, the future of money and the creation of money. He has also published posts on money etiquette, money disorders and money management.

      Money comes in many forms and Paul has explained the workings of fiat money, credit money and virtual money. He has also outlined how money affects Wall Street and Main Street and how money and debt are two sides of the same coin. He has also described the operation of monetary policy and the use of quantitative easing.

      As a business blogger, Paul is not an uncritical apologist for free markets because no economic or political system built by humans is perfect. But as an economic rationalist, Paul is proud to nail his colours to the mast and declare that he remains a proud supporter of open markets – even with their imperfections.

      To this end, he has published blogs in defence of globalisation, deficits and bailouts. He has stood up for free enterprise and capitalism while underscoring the need for greater ethics and accountability in banking and highlighting the pitfalls of over-regulation.

      Along the way, he has pointed out the dangers of excessive leverage, the importance of savings and the need to educate our children and young adults in money matters. From Islamic banking to fractional reserve banking, Paul educates and informs in an easy-to-understand and entertaining way.

      The Global Financial Crisis provided Paul with a rich source of developing and unfolding events to comment upon. He explained both the cause of and response to the crisis. The crisis exposed the greedy and destructive side of human nature at both an institutional and individual level.

      Paul has a deep understanding of the human condition and is passionate about people and human behaviour. That passion finds expression in the humanistic narrative thread that weaves seamlessly through his blog. Economics is the study of human behaviour as it applies to money and Paul’s musings on money and life have touched a chord with a growing readership.

      This book’s strength lies in its accessibility. Each blog post is succinct and can therefore be digested quickly and easily. This compendium, then, is perfect for the time-starved reader and for those with short attention spans since all posts are concise yet informative.

      By avoiding excessive jargon and clearly explaining key concepts, Bite size advice de-mystifies key issues which impact our day-to-day lives. It fills a gap in the literature on contemporary political, economic, social and technological issues in a user-friendly way.

      You will discover that Paul is a storyteller who eases readers into complex topics while offering authoritative insights and opinions. I am an avid reader of Gateway’s CEO Blog which Paul religiously updates every Monday morning to keep it fresh and relevant.

      Under Paul’s leadership, Gateway has grown from an institution with little brand recognition to a respected name in the financial services sector. He is passionate about Gateway’s “people helping people” philosophy and believes that credit unions must constantly change while forever staying the same.

      Paul has had a long and successful career in financial services. He is a resourceful and strategic CEO who has forged a reputation as a thought leader. An accomplished public speaker and writer, Paul’s credentials include an MBA and a Diploma in Financial Services.

      In the pages that follow, you will find an informative collection of Paul’s blog posts. Persuasive in argument and wide in sweep, they offer a fascinating window into many of the contemporary political, economic, social and technological issues facing society. I hope that you enjoy reading them as much as I did.

      C. M. Hallinan

      Chairman

      Gateway Credit Union Ltd

      Sydney, February 2015

       Introduction

      Never in my wildest dreams did I think my blog posts would one day be turned into a book. When I took my first uncertain steps as a rookie blogger in March 2008, I thought I would quickly run out of steam. Seven years later, I can safely say that my concern was unfounded.

      I took to blogging like a duck to water and have never missed a weekly posting, even though I still lose sleep worrying about the content of next week’s blog! I find blogging extremely rewarding since it enables me to show a more human side to banking and finance.

      From the outset, I have used my blog to offer what I hope have been enlightening insights into the often misunderstood world of banking and finance. I have tried to shine an instructive light on the inner workings of a sector that touches the daily lives and wallets of billions of people around the world.

      Whether it’s taking out a mortgage to buy a home, obtaining capital to start a business, transferring money to electronically pay bills, putting savings away to fund one’s retirement or insuring your life and personal possessions, the financial services industry plays a key role.

      Indeed, the financial services industry is the hub of an economy, facilitating the productive flow of funds between sectors, companies and individuals. The banking industry plays a critical role in fuelling economic growth by providing credit to households, businesses and governments.

      Money, of course, is a central component of our lives and influences practically every decision that we make. We need money to pay for our basic needs (food, clothing and shelter) and to finance our non-essential wants (exotic holidays, luxury cars and designer goods).

      Some people are defined by money, others see money as merely a means to an end while others still have very little money. This economic inequality has driven me to opine on the extremes of wealth and poverty, highlighting the gap between the richest and poorest in society.

      Humans love to debate and argue their point. Some of the high profile debates that I have weighed into include the population debate, the climate debate, the welfare debate and the privatisation debate. On a lighter note, I also debated the merits of maintaining a corporate wardrobe.

      Maintaining a corporate blog has clearly enabled me to share my ideas and opinions on a range of political, economic, social and technological topics. What I have learned along the way is that you have to distil a lot of information into a coherent and cohesive argument or summary.

      If the truth be known, I was initially a very reluctant blogger and was dragged into blogging by a colleague who argued that it would be good for Gateway and for me. I now find it hard to imagine my professional life without blogging – it’s become part and parcel of my working week.

      The golden rule of blogging is that you have to be authentic, so my blog is an online extension of my personality. My overarching aim is to be an honest and transparent blogger who tries to inform and debate in an entertaining way.

      In March 2013, I celebrated my fifth anniversary as a blogger which caused me to look at the blog with fresh eyes. What struck me is that my blog, unlike most others, did not have a name. Choosing a personal blog title is something I overlooked when my blog was launched.

      I was told that the best blog titles are short, compelling and easy to find in search results. So, I chose to name my blog, Doubting Thomas. The term СКАЧАТЬ