April 27th, 2009 11:09 pm
Tijuana Donkey Show
A swine flu epidemic is the last thing the economy needs. Even if it gets stopped and doesn’t spread, it’s already wreaked some havoc on the world of finance.
Crude oil has dropped roughly three percent in light of the recent swine flu news. Worries over less travel have begun to unravel the commodity’s twelve percent increase this year in just a couple of days.
The global economy is forecasted, according to the International Monetary Fund, to shrink by 1.3% despite a 0.5% prediction to grow earlier this year.
The U.S. dollar has grown in strength, appreciating 1.6% against the Euro from last week (at $1.3036). Continued fears over the economy shrinking will persist in driving the dollar up. One must also keep in mind the World Heath Organization has upgraded the swine flu pandemic alert to phase four, which represents sustained human to human transition, out of six. What then?
My thoughts? It isn’t worth the donkey show.
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April 27th, 2009 11:03 pm
“Every morning I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work.”
Robert Orben, American Magician & Writer
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April 22nd, 2009 12:00 pm
One of the best articles I’ve read in a while.
Here’s a taste:
“Role-play will be a lot less pleasurable. We have split the world into two pantomimic parts: the evil (the bankers) and the good (everyone else). In future, sorting out villains and victims will require more imagination.”
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April 22nd, 2009 11:52 am
“We sometimes emphasize the danger in a crisis without focusing on the opportunities that are there. We should feel a great sense of urgency because it is the most dangerous crisis we have ever faced, by far. But it also provides us with opportunities to do a lot of things we ought to be doing for other reasons anyway. And to solve this crisis we can develop a shared sense of moral purpose.”
Al Gore, 45th U.S. Vice President & Environmental Activist
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What's the world coming to when you can't rely on speculation and rumor?
I don’t know what world The Wall Street Journal is living in (perhaps you can find a dimension or universe that I can’t) but the economy is well on it’s way to recovery. In a recent article, the WSJ laments the performance and over valuation of Bank of America Corp. Shouldn’t the fact that stocks are being inflated again be a sign of recovery?
The way I see it, if people are confident enough to jump onto Wall Street with no idea of what they’re really doing—as most do, kind of like the California Gold Rush—in search of high yield profits, then the economy is once again performing the way it should be. Stock speculation is a time-honored tradition. Yes, it comes with dangers. Hell, Mark Twain wrote, “October. This is one of the peculiarly dangerous months to speculate in stocks in. The others are July, January, September, April, November, May, March, June, December, August, and February.”
The problem with this vice however, as with any vice, is that oftentimes, the gains outweigh the drawbacks, if only for a certain period of time. For once though, it is the other way around. Read more…
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“I am a survivor. I am like a cockroach, you just can’t get rid of me.”
Madonna
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The Cockroach
The economy is slowly starting to inch itself out of the hole it dug itself. As surely as cockroaches survive anything, the U.S. economy is beginning to scuttle away from the wreckage that was.
Or is it? We keep hearing better and more hopeful statements by bureaucrats, but is that all they are? Statements? In a recent statement by President Obama (does it matter whether its prose or poetry?) slightly more confident overtones about the Economy crept through. Not to say that President Obama did not play it safe, as he always does, saying, “The severity of this recession will cause more job loss, more foreclosures and more pain before it ends.” Indeed, with 650,000 jobs being lost monthly, it’s hard to ignore. In order to prevent this happening in the future, President Obama has been pushing for financial regulation. Read more…
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“What you see is news, what you know is background, what you feel is opinion.”
Lester Markel, American Journalist
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The Sex Sector of The Economy
The New York Stock Exchange is a whore.
Let’s go with this analogy: back in 2008, all of NYSE’s customers kept telling her to slow down. She had money, security and regular customers. Life was good. That is, until she got gonorrhea.
As with any busy bee prostitute, NYSE ignored the symptoms. They could be anything: maybe an infection that’ll just go away. But when the fevers (housing market) got worse and boils (toxic assets) began to develop, NYSE could not ignore it anymore.
Despite the best efforts of all her doctors (economists) and even the Center for Disease Control (Federal Reserve), things kept getting worse for NYSE. If only she hadn’t slept with those guys with bad background checks (credit reports). Read more…
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