European banks get government help...
The world's leading nations stepped up efforts today to stem the fallout from the worst global financial crisis in decades, CNNMoney.com reports. The leaders of 15 European nations -- gathering in Paris at an emergency meeting -- agreed to a wide-ranging plan to boost bank liquidity and guarantee interbank lending, said French President Nicolas Sarkozy.
There are certain things I do not understand. What do they mean with the phrase "liquidity"? Is liquidity the money I originally put into my savings account? You know the stash, that ment to stay cash?
I am personally not very much affected by this turmoil, but I follow the tendencies with almost a perverted curiosity. Will the "system" crash and bend over - or will there be just an other show of sliding figures on a black board?
Don't know. On Monday we will see what happens next.
I bet the DOW will drop below 7000. But that's just me...
In my mind there is no "rescue-plan" anymore for today's economy, for the swines who eat pigtails.
Das Spiel ist zuende!
It is actually pretty sad that I am obsessed with all this stuff. Because I just had the funniest encounter this afternoon, some Restaurant that is for sale. I went to the front door, the door was open. I entered, and I observed the melancholy of an abandoned space. I looked around, went to the bar, sat down on a stool and listened to the spirits around me.
Those kind of situations, you can only experience in the United States of America.
Thereafter Walli and I rowed across that lake in an inflatable dingy, evening sun and all. That was all after we had tea at my daughters new homestead.
Be good and plant something - anything.
Zee.
Sunday, October 12
Inflatable reality
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18 comments:
I did willfully censor some of the juicier parts of the story on my wife's request. She doesn't feel comfortable to know all the details and have them posted. I do understand.
After all. she has a reputable position, and I don't....
Considering the DOW was artificially inflated anyway I don't have a problem with it dropping to realistic levels.
I'm glad you had a good day and I enjoyed seeing the restaurant pictures.
IF You clean up and start up the restaurant maybe You need a Swedish Chef? ME ;-)
Interesting post Zee, from the economy to the abandoned bar... there's some sort of harmony in there.
I censored my post Gary. Had a big gulp of that Glenfidich. Was truly good and mature!
Shoetboller med spagetti eller noe sant Anna-lis?
Eg kann ikke snakke svensk, men jeg forsta deig lite gran.
And my Norvegian skills have gone to hell...
Abandoned restaurants and inflatable boats with sunsets really mean a lot more to me too than the Dow Jones. But still we spend a lot more time thinking about money than life, don't we.
I will do as you told me and plant some hope today. And hope the hope will grow.
as i imperfectly understand it:
"lack of liquidity" means there are a lot of assets around that nobody wants to hold.
since nobody wants to hold these assets, their value is discounted.
as these values become increasingly discounted (more sellers than buyers), their worth (or lack of worth) needs to be accounted for.
since some businesses (such as banks) are government regulated, they must maintain a certain positive ratio of capital to liabilities to remain solvent.
with currently no attractive way to increase capital by liquidating positions, selling additional debt or raising additional equity ("liquidity"), some of these businesses are unable to meet regulatory capital requirements. Many are, sadly for all of us, technically bankrupt.
As those we pay to defend and guide us scramble and amble to show they know, we wait aimlessly. Frankly, I would put my money in the company which issues "idiot" stock.
Ah, Bettina bisch guet druf zr zit?
Planting hope, hmmm... You got to have super-fertile soil. Let me know how the thing looks like when it is growing.
Susan I simply agree with your statement.
Sera you have a way to put things into perspective, very well done. Nevertheless, I wish more banks would falter, simply because then we might have more "real" money again. I am tired of corporations getting stinking rich on the debt of others.
Goatman Thanks for dropping by, and yes, I guess I understand your point!
Anna-lys Sorry, I didn't mean to be harsh. The Scandinavian cuisine has come a long way since the mid-70's beginning 80's when I lived there. Then it was mostly potatoes, meatballs, lutefisk and deep frozen peas as veggies.
been catching up..... envious of your travels, having never been very far away from home, or for very long. it's on my 'bucket list'. from what i can figure, liquidity is what your assets are really worth when the rubber hits the road. if you own a lot of stocks or property, but no one else wants them, you may appear wealthy to some, but no one wants what you have, so it's pretty much worthless. the whole stock market system is built on this concept of valuing things by what we think others might pay for them. it has nothing to do with their actual usefulness or function. so unless we can convince someone to give us something of value in exchange for them, we're left with empty pockets. it's all artificial. a sign of the times. i'll take a garden and a pile of manure over stock options any time.
you didn't tell us what the spirits in the empty restaurant said to you.
Granny Fiddler the spirits were full of laughter, I couldn't make out what exactly they were mumbling, but they seem to be content.
I wish I had more manure available. My garden is in need of it.
Woooow
You speak Scandinavian?!?
DEt är underbart att du förstår mig, ingen annan i världen gör det.
I prefer sushi ;-)
(( kram ))
I am sorry if I don't discuss money-problems. It is related to that I don't believe that money generate happiness or healthy life, on the contrary, to much money makes humans not use their natural competences, and place them outside the natures system.
I dig Sushi, you are hired! Anna-;
Now I just have to acquire the restaurant first before we do any other steps.
Can there be music on Friday or Saturday nights?
"Underbart" Swedish is so different... Wonderful in some ways, complicated in others.
good thing for the censorship Zeester...respect your partner always..[s]
as for planting..I just consolidated two unused veggie beds (hard work, pfff) and planted a bunch of cabbages, brussel sprouts (am one of those few people who actually like them and I'm not a green veggie person perse), companion herbs such as dill, camomile, sages and oregano. For the heck of it I planted a scented geranium (someone else's cutting) on the edge of it as well.
and lucky me..without realizing..it was supposed to rain this week and it has been..cats and dogs. Wow..to think it hasn't rained like that in MONTHS!!
Ingrid
I am tired Ingrid - tired of this show. Give me Hollywood anytime these days. I want to fade away, without anybody noticing...
Tonight we will have the "last debate" - who knows what will come about it.
Yes, an herbs are fine for gardens.
Zee-ster..sometimes I think it's melancholy for being so 'different'.. an immigrant's lot in life that at times just feels pretty depressing. Not that everything 'at home' is better, but culturally, there are times this place (the US) really makes me tired..I'm still 'clickless' for the most part..
Ingrid
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