25 October, 2008

"It was denial"

Comments from the WEF : "'But the financial community didn't listen,' Schwab says. 'They were told that any serious look at the economic fundamentals showed that we were in an unstable situation. It was denial, total psychological denial."

02 October, 2008

Unbelievable -- the USD is strongest ?

Right now, 11pm 02-Oct-08, Singapore time, the headlines on Bloomberg's Currencies News Page (http://www.bloomberg.com/news/markets/currencies.html ) are :

1. Euro Drops to 13-Month Low Versus Dollar as ECB Debated Interest-Rate Cut

2. Financial-Rescue Bill Sent to House For Second Vote After Senate Approval

3. Mexican Peso Drops to One-Year Low on Speculation Global Economy Slowing

4. Brazil's Real Falls to 13-Month Low on Concern Global Slowdown to Spread

5. Chilean, Colombian Pesos Lead Latin American Decline on Economic Prospects

6. British Pound Falls Against Dollar as House Prices Drop Most Since 1991

7. Russia's Ruble Near Weak End of Band as Companies Buy Dollars, Bonds Rise

8. Nordic Currencies: Iceland's Krona Declines Against Dollar on Downgrades

9. Australia, New Zealand Dollars Decline as Investors Sell High-Yield Assets

10. Asian Currencies: South Korean Won, Thai Baht Decline on Credit Concern

11. Taiwan's Dollar Falls as Demand for Funding in the U.S. Currency Increases

Someone, please remind me ! WHICH country is deseperately trying to pass legislation to save itself from serious economic damage ?