Some 92 percent of employees say financial worries are keeping them up at night, according to a poll released by ComPsych Corporation today. Only 8 percent of employees described themselves as “not worried.”
If fellow workers seem groggier or grumpier than usual in the mornings, they are probably losing sleep over the global financial crisis.
That is precisely the reason I was shocked because I’d been going for 40 years or more with very considerable evidence that it was working exceptionally well
We cannot expect perfection in any area where forecasting is required.
We have to do our best but not expect infallibility or omniscience.
If we are right 60 percent of the time in forecasting, we are doing exceptionally well; that means we are wrong 40 percent of the time,” Greenspan said. “Forecasting never gets to the point where it is 100 percent accurate.
What went wrong with global economic policies that had worked so effectively for nearly four decades?
he “breakdown” was clearest in the market where securities firms packaged home mortgages into debt sold on to other investors.
As much as I would prefer it otherwise, in this financial environment I see no choice but to require that all securitizers retain a meaningful part of the securities they issue.
Clearly, the United States and the world economy are undergoing a major nancial crisis. Interbank borrowing and lending rates have risen to unprecedented levels relative to U.S. Treasury Bills. Several major nancial institutions have failed. These real problems have also been associated with four widely-held myths about the nature of the nancial crisis and the associated spillovers to the rest of the economy. The nancial press and policymakers have made four claims about the nature of the crisis.
Bank lending to non financial corporations and individuals has declined sharply.
Interbank lending is essentially nonexistent.
Commercial paper issuance by non nancial corporations has declined sharply and rates have risen to unprecedented levels.
Banks play a large role in channeling funds from savers to borrowers.
Here we examine these claims using data from the Federal Reserve Board. At least based on data up until October 8, 2008, we argue that all four claims are false
The press loves a spectacle. There’s a good reason for this: panic increases paranoia, which increases the desire for information, which increases their advertising revenues. Thus, the press has an incentive to exaggerate the importance of the events they report. As such, we shouldn’t be surprised to find the press amping up fears about the next threat to the “real economy.”
Buffett ha recentmente dichiarato che a questi livelli è il momento di comprare: quando tutti hanno paura secondo Buffet in borsa si fanno gli affari migliori, mentre bisogna avere paura quando tutti sono euforici (Buffett’s “buy now” call). Ma in Italia Buffet ci fa un baffo… noi abbiamo il mitico Lino!
One million dollars? Two million dollars? Five million dollars? Yesss, comprare comprare, tutto tutto … comprare comprare!
Credits: Grazie a Stefano Valenti per la segnalazione