Friday, October 3, 2008

How Soon Can You Take Your Puppy To The Beach

Stadium Moments from The tale of the time was right for the economy

Today I did a reflection on the very critical moment facing the world of finance, banking and economy in general. To tell the truth, the negative moment has dragged on for several years, with ups and downs so much hoped for recovery does not appear to have ever raced.
Even the world of work is heavily influenced by the negative effect of the economy and the situation tends to improve, indeed seems to get progressively worse.
no use pretending that there was yet another jolt with the failure of Lehman Brothers , not only because the largest of the bancherotte world, but because as an institution unexpected surprise to more informed, can be collapsed so suddenly irreversible.
The problem that puts chills on me at all is that if it hit a giant like Lehman then it can happen the same way to one of our reality bank at any moment. That danger is global. In Italy some
the subprime mortgage crisis is not at the levels of the American one. I have no doubt. Here we all agree on the advantage of having a bank still deeply rooted to tradition.
And if in Italy the problem is not mortgages or the derivatives thereof, but rather on profits and on a consideration that is more than just a feeling, namely that the crisis here is not investing in the consumer?
In recent days we have seen across the state television at a very reassuring information for TG, with speeches by prominent guests from business, aimed in some way to resize the American crisis and to calm savers.
I start by saying that when people like perfume or Colannino so bursting out through the medium of television there is little to worry. Question: How many times have you seen their faces on TV? I personally never. As it happens at such a strongly negative for the economy. The
Colannino is telling us that Cai is a serious climber and reassures us on the financial soundness; also tells us that to reach a restructuring of Alitalia have to wait for the medium to long term. That news gave, if not a cliche? Perfume
however, a number of Unicredit, following a couple of sessions heavily negative of the share, the debut saying "depositors have nothing to fear," lucky that day the title ended with a breath of fresh air. Also advised to "invest based on your needs .. without incurring excessive risk," adding a word as old as speculative at best, "diversifying". What kind of information
is giving us a good perfume?
We are not telling you about being cautious and waiting, but this was surely not what you had expected, of course. There is, however, to say the most common cliché of the economy invested but diversifying to reduce risk. But this has always been a cornerstone valid even in the heyday of finance. Said at this time worth? Soap bubbles.
In such a framework are then echoed the words of our minister Tremonti: "The risks remain contained for Italy."
The question that I remember: it's just reassuring at a time when so little reassurance?
Colannino's words, Nose and Tremonti answer anyway with Amen and so be it.
I think the time is really hard and I do not know if using or inventing "other times (as I vaguely remember a quote from a Stefano Benni imaginative but not too much) we will be able to reverse the terms.

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