30th anniversary of a liquidity crisis
Usually when we talk of bubbles and crises in capital letters in which we lived in Japan 80, but this country suffered a liquidity crisis curious exactly 30 years ago at which time the Bank of Japan was forced to produce more coins 100 Yen (say up to 4 times as much) because of the huge demand that he had. Is the culprit? A recreational machine inspired by the War of the Worlds of HG Wells. Now was the "Space Invaders" (the marcianitos). Such was the impact that arrived to open recreational rooms devoted solely to Space Invaders.
One reason for its enormous success was that it was the first game which introduced the concept of "Hi-Score," which played the pride of the player, encouraging competition and the instinct for passing. It is curious to see how the "transparency "Show in the results was the key to its enormous sales (over 500 million dollars for operating licenses) the opposite of what that style is now in the markets.
Comparing the lack of coins of 100 yen to the current liquidity crisis is very illustrative. We had poor Japanese boy who after waiting to open the arcade after leaving school (in Japan is forbidden to open them in school hours), is found dead in the mood for playing the machine from which everyone talks but it turns out that you only have a ticket of 500 yen and nobody, except the Macarro of sleeveless white T-shirt from the game room, has the coveted coins. What happens? That is forced to accept the blackmail of change 1 500 note Yen 100 coins for 4. The same thing is happening now to banks, yesterday for example, were paying rates more than 10% when they should be 2%. There is no money and that there is paid dearly. What I say, is nothing new, is simply the law of supply and demand, but sometimes we forget that this law also works for something as peculiar as it is the money.
Can be considered that the Space Invaders was the beginning of the explosion of a sector which is currently the largest bill in entertainment and also not aware of crisis and that this year sales have risen by 15%.
Yesterday we had an "Invader" that threatened the economy, it was AIG, the world's largest insurer and as a good science fiction movie came to the last minute superhero to save humanity, in this case FED with a bridging loan of 85,000 million dollars. The situation of AIG as you can imagine it was not good, this year increased from 4130 to win millions of dollars to lose millions 7805.
So in moments where everything can not go worse, we are left with the consolation that something has to improve, that is what we read in this article Cotizalia.
Not that it is not aware of the magnitude of the problem we are experiencing, who I am. But despite this, or precisely why, I think, for the first time in a long time, the market is entering a dynamic of natural selection, Darwinian might say, in which the survival of the strongest, in this case Paradoxically, are the most conservative, will finally collect his body. And that is a reason for hope.
It is also a good time to find good bargains, this is the case of Barclays which is made with the U.S. business of Lehman Brothers million by 1750.
Said and done. Barclays announced yesterday his intention to get hold of the assets of U.S. investment bank, which on Monday was declared bankrupt, and it took less than a day to close the transaction. The British bank has confirmed it will acquire some of the largest brokerage business in the United States of Lehman by about 1750 million dollars
This, frankly reminds me a lot at a bird scavenger, but so are the markets and that is not fly (that is the case).
Finally, throw a question on the air. Did well in the EDF to rescue AIG? And why did it not with Lehman?.
Written by Carlos Lopez on Sept. 17, 2008 with 283 points.









(4.75 sobre 5)
# 1, condonacion_jeje
Price of gasoline or move around ... but that if m timaran in the fuel but not in their shops around twice the price .... Thief!! Scoundrels!!