Have you ever heard about the "Alice In Wonderland" syndrome? so here is the strict definition :
"It is a disorienting neurological condition which affects human perception"
So who's got it?
1 - "Addressing Parliament during the budget debate on Tuesday, Finance Minister Jyrki Katainen says the Finnish economy is in excellent shape and able to withstand difficult times."
...I go to the right ("so it can...")
2 - "The finance minister predicted however that the instability on the global financial markets will drag the Finnish economy downward."
and oops the syndrome is hitting , I go to the left ("so it cannot"..)...
We could call that the "Politician Syndrome" too, just tell at the same time two opposite view in order to make happy any audience - the one that need positive message and the one that need negative one-
Should I use the same technique? 'The stock market will crash but only to rebound stronger and healthier.'
Nevertheless, i have heard a bunch of media disinformation in the past 48 hours that's hard not to intervene and say something about the Lehman and AIG issues.
Any banks in the world has and will have an impact on lehman demise and even more with a possible fall of AIG. -due to indirect links- which are falling stock market, rising credit cost and deteriorating global economy. Full point.
"It is a disorienting neurological condition which affects human perception"
So who's got it?
1 - "Addressing Parliament during the budget debate on Tuesday, Finance Minister Jyrki Katainen says the Finnish economy is in excellent shape and able to withstand difficult times."
...I go to the right ("so it can...")
2 - "The finance minister predicted however that the instability on the global financial markets will drag the Finnish economy downward."
and oops the syndrome is hitting , I go to the left ("so it cannot"..)...
We could call that the "Politician Syndrome" too, just tell at the same time two opposite view in order to make happy any audience - the one that need positive message and the one that need negative one-
Should I use the same technique? 'The stock market will crash but only to rebound stronger and healthier.'
Nevertheless, i have heard a bunch of media disinformation in the past 48 hours that's hard not to intervene and say something about the Lehman and AIG issues.
Any banks in the world has and will have an impact on lehman demise and even more with a possible fall of AIG. -due to indirect links- which are falling stock market, rising credit cost and deteriorating global economy. Full point.
4 comments:
Housing Finland
I think it was US president Harry Truman who said he wanted to employ a one handed economist as he was tired of only hearing 'on the one hand xyz and on the other hand abc will happen'
But as i understand it on the one hand you see very very difficult times ahead but on the other hand you are anticipating a brightening in investment opportunities in the next few months when you are expecting to buy various shares.
I think we all have this problem at the moment.
On the one hand i am totally in a state of panic. But on the other there is nothing to worry about.
At times like this beer or vodka makes life easier!
"Finnish banks have operated in a more responsible manner than have foreign ones," Mr Katainen said.
"Jouko Skinnari (soc dem) pointed out that foreign banks were now a majority in Finland."
Which Finnish Banks? the last one was Sampo which was sold to 'Dans'.
The next is Nordea which is owned by Sweds.
The other are small players that have insignificant meaning in todays financial world.
-Anton
To Andrew,
I hope the panic goes fast otherwise you will have to drink a quite massive amount of drink...;->
To Anton,
I agree that the Finnish bank are pretty small and do not represent a force here in Finland. I think it is all due to the financial crisis that Finland had in 1991.
Central Banks Offer Extra Funds to Calm Money Markets
http://www.bloomberg.com/apps/news?pid=20601087&sid=acxSPUb3AuU8&refer=home
And it seems to be working so far
http://www.bloomberg.com/apps/quote?ticker=EUSOC%3AIND
US treasuries remain in massive demand.
Interesting times!
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