Word: calling
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...very few people saw it coming, I guarantee. Nobody saw the real cost. And let me tell you the problem. The system used to analyze risk is completely defective, and actually could not keep up with the complexity of the financial products that are involved. You have what I call a geometric or exponential increase in risks. For example, if the market drops 10% you lose $100 million. But if the market drops 15%, you don't lose another $50 million, you lose an extra $2 billion. And if the market moves an extra 5% you lose an extra...
...Would you call this a crisis? Are you reading the papers now?Yes, I've been following a little bit the news, to see what's been going on, and I think that now we've had a revelation that there are problems, and of a lot of things the general public needs to know. The general public needs to know that a lot of bogus claims have been made by the financial economics establishment, based on metrics that we know don't work, and a lot of portfolios are based on these underestimations of wild uncertainty. The coverage...
...things. Let's have more transparency, fewer complicated products we don't understand. Let's generate economic growth by old traditional ways, let's favor technology companies, let's not favor all this financial bulls---. Because it was a Ponzi scheme, I don't know any other way to call...
...styles is easier said than done. Despite being the global cheerleader for a united response to the crisis, French President Nicolas Sarkozy on Friday announced that France would be creating its own national sovereign fund to buy stocks in troubled private companies. On Tuesday, Germany had rejected Sarkozy's call to create a European-wide sovereign fund that could prevent Europeans waking up "to find European companies belong to non-European capital, bought when share prices were at their lowest point". Sarkozy also wants governments in countries that use the euro to have greater powers to manage it against other...
...they did the year before. DOT says it's the largest ever year-to-year decline recorded in a single month. Over the past 10 months, Americans have driven 78 billion fewer miles than they did in the same 10 months the previous year - sure proof of what economists call "demand destruction...