Everything is falling and at record pace. Maybe one should list what is not falling as the list will surely be smaller.
So what's not falling?
1- My daughter since she knows how to walk and very well , alas now she learn quickly how to run and how to run fast...
2- Matti Vanhanen, still holding hard as a prime minister: his party is falling apart yet like a magnet he seems to defy gravity...
3- A post-it that is on my fridge that always remind me that I should not forget one important thing: " Is it time, today, to go around the world as an adventurer? "
Well what's falling? , let's try to be short
1- Not as a surprise, housing prices continue their downward trend (we are just at the beginning...)
Finnish detached house prices fell by an average 4.3 per cent in the last quarter of 2008 from the year-ago period, Statistics Finland (SF) said in a statement Friday.
Prices fell by about 5.1 per cent in the capital region and by some 4.2 per cent in the rest of the country.
The number of house transactions plummeted by 44 per cent year-on-year.
What is important to note is the total collapse of the demand. People are not interesting to buy at those prices and are keen to wait when normal prices or bargains starts. Of course the economical situation is playing a lot here amid rising unemployment and household limitation to take on more debt.
So if price continue at this pace : 5% per quarter, we will get 20% for this year and 40% by next year..hum nothing goes in straight line though...
2- Dramatic drop in new orders in manufacturing
Where are the trading partner?
Russia has shut is market, Sweden, UK, US are devaluating their money and their economies are on the brink of collapse i.e shifting from recession to depression hence the rush to cut interest rates to level not seen since the appearance of the "Homo Sapiens".
3- Where are the tourists? hey oh...it's shining, the temperature has risen to +3 degrees, it's almost summer..so where are they???
Indeed the number of tourists has fallen drastically: currency issues, change of consumption habits, economical issues, or just fed up to travel?
My hat to the Dutch, still bucking the trend.