2008 or a Record Year...

-Euro peaked at 1.60$

-Petrol price reach a record 135$ a baril

-Gold breaks the 1000$ per once mark

-Gazoline reach 1.5/l

-Inflation reach 3.9%

-Rent price soar

-Housing Peaked

-Euribor 12 Month 5%

-Parliament bribes soar to all time high

-Municipalities competencies plummet to all time low

-Kindergaten place availability shrink to all time high

I started this year blog with the title, "2008 or the year of the tsunami" to clearly indicate that we had been witnessing too many excesses that signaled the peak in the cycle.

The tremor has started sometime in mid 2007, the epicenter was located in the U.S., a second hit in the beginning of 2008. A "massive wave" have been created and is propagating slowing ...