Some time ago, I read a headline which reads Bill Gates Still Has the Deepest Pockets in America. That simply means the former Microsoft chief is the richest man in America. Still is, I think, with some US$50b to his name.
Likewise, you also hear terms such as “large, deep pocket companies”. That means big, rich firms, such as the aforementioned Microsoft and Google.
Simple and straight forward, isn’t it?
Great. With the Chinese New Year coming up, I wish every one of you, my dear readers a very enjoyable new year, and for the youngest readers a lot of pocket money to spend during the holidays. Yes, the deeper the pocket the better.
Happy New Year and, don’t forget, get a good feel of “deep pocket” via these examples:
1. The German parliament, the Bundestag, overwhelmingly approved an increase in the powers and muscle of the European Financial Stability Facility recently, the pot of potential bailout money.
But opinion polls here suggest not all Germans are so inclined to be generous. Our (entirely unscientific) snapshot suggested a more nuanced picture.
Armed with a big yellow envelope with Greece written on the front and some coins inside, we jokingly asked commuters heading for Frankfurt's main railway station whether they would personally contribute towards the Greek bailout.
Around three-quarters told us that, for now at least, bailing out countries such as Greece was worthwhile.
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