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10 comments on The Finance Round-Up: October 23rd 2007
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Thanks Musashi. Participation improves when we get on the front page, but as these posts are financial rather than directly energy-related, they are probably considered rather tangential to the purpose of the site.
My own view is that the fate of the casino economy will directly determine much of what happens in other spheres, and in a far shorter time frame than most people are planning on for being prepared to deal with any kind of upheaval. IMO this is a slow motion train wreck and it's already been going on almost all year.
People are already thinking the events of August are safely behind them, and my aim here is to point out that things continue to unravel largely away from the public gaze. There is a huge amount of frantic activity going on beneath the surface as bankers try to stave off the day when all these toxic assets are marked to market (by trying to sell them to themselves at inflated prices for instance).
We are pretty much in agreement.
I certainly agree that most of the hard data on GW and PO is correct to the extent that it is substantiated from multiple sources in Europe and Asia, but they are not what will hit first.
One issue isn't more or less important then the others, they all are important, but the issue that hits first rearranges the playing field for the others. It does make some sense and see how the cookie crumbles before fully committing major resources to something unlikely to be realized other then on a personal level.
The US certainly has much of the technical expertise as far as finding solutions but there is very little political or ethical credibility. The only credible parties are the ones doing their own thing with their own resources. Even if they turn out to be wrong, at least they are honest.