Banks and the Wilkins Shelf in Antarctica
The markets are doing quite well given the continuing 'fall' of the banking industry. I think the intangibles of good will and optimism toward President Obama is holding up the world markets. Did you imagine that the biggest banks; Bank of America and Citigroup could be bought for $5 and $3, respectively, per share? The financial results coming out on the regional banks reflect the 'bite' of bad loans too. In addition to the U. S., other countries are reducing interest rates, and pouring hundreds of billions into their financial institutions without uplifting results.
Countries, like China, dependent on exports are contracting so fast that it shows how steep their economic growth has been in the last few years.
Additional smaller examples of Madoff are surfacing for public view. Mr. Shrenker who tried to fake his own death, and Mr. Nadel, from Florida, who has disappeared with what appears to be hundreds of millions of his clients' investments.
Also, the British Antarctic Survey team said that the Wilkins Shelf in Antarctica, about 15k square kilometers in area, is 'hanging on by a thread' and is expected to break free soon. How does this relate to the other subjects mentioned here? It symbolizes that evolution continues as humanity uses 'ant' energy to try and control the uncontrollable. What has been frozen is now melting so we can see more clearly. Our financial system is experiencing a wave in the cycle that is repetitious since it was originally established. The difference now is that the size of this wave is still unknown compared to the past. I look at this as an opportunity for a huge collective shift where we learn to live within our means which includes savings too, versus the mentality of using debt to fill our insatiable desire of buying the latest and greatest.
Labels: Wilkins Shelf, world and regional banks
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home