Miscalculations
An ancient legend has it Sheram, the Indian prince, was so astonished when they learned the game of chess, who wanted to reward generously Sessa, the inventor of that entertainment. He said: "Ask me anything you want." Sessa replied: "Sovereign, which sends me a grain of wheat delivered by the first section of the board, two for second, four for third, eight in the fourth, and so on until the box 64".
The prince could not please, because the result of that operation S = 1 + 2 + 4 + + 2 ... 63 is about 18 trillion grains. To get that would sow the entire Earth 65 times.
Sometimes I think that some banks have been passed as the prince's story, which first promised the money and then we have estimated and that is not what they had or had human form that he had.
In February 2006 there was a political controversy in the United States following the purchase of the management of six major ports by a Dubai state-owned. The President Bush hailed the operation but the Congress, arguing national security, managed to go delaying the agreement until finally a U.S. company took over the contract. Many Americans were afraid that Dubai-ally regarded by the government but in Muslim-majority manage something as important as the safety of the major seaports of the country.
However, in the financial world, the main U.S. lead months and months looking for money regardless of their origin. The liquidity crisis of confidence and has given back to the tortilla and not know what Americans think of walking but no executives do not disclose financial problems to the savings (and therefore also the management of pensions in a country where they are mostly private), the decision to grant credits and direction of investment by major banks in the world (in the list of those who have received money from Asia are also the Swiss UBS and Britain's Barclays) are largely mediated by governments that are dictatorships (such as UAE and Kuwait or China where there are elections but women could not vote), representing a population largely anti-Western and whose geostrategic interests (such as Chinese) are conflicting with the USA interests.
To top the liquidity available in the U.S. for equities (in the fixed income process is not well) according to official figures has been largely designed by fund managers to buy outside the country:
In the first eight months investors Americans took 68 bn. $ Of equity funds, of which 51.8 bn. were funds that invested in U.S. stock market. A year ago was much worse: entries from 81 bn. $ In equity funds with sales of 16.4 bn. funds that invested in U.S. stock market.
That is, in 2007 bought a large amount of money outside the U.S. and made money out of the bag USA. It could have been by $ distrust toward a thought (that was correct until very recently) of higher returns on assets in yen and € but it is symptomatic: USA managers draw money from the American equities even uptrend and now begging for money Arabic and Chinese.
Should not because the U.S. authorities in their efforts to monitor these flows interventionist? And investors should not arise in Asia that might not be best to buy where there sell? And the big question: Will there be enough money in the world to address this or as the story will have to wait 65 crops?
PS: And since today is a day in which as noted is consummated a change in the chairmanship USA and we're talking about miscalculations might be interesting to recall the cost of the Iraq intervention that the Nobel JOSEPH E. STIGLITZ estimated in March this year and $ 3 trillion according to some voices that should already be in the 4 billion. Money which, remember, has been thrown sunk by as many taxes they pay to state that some companies have won contracts in Iraq, will not arrive or 10% of that figure. Who says that the reason for all the depth of this crisis can not be in this cost themselves when U.S. authorities argue that less than 1 trillion will fix the financial crisis?
And to complete the usual summary of the press in which we are all aware of as he lay on the economy Obama's victory:
- Oil soared more than 10% and again surpasses the $ 70 per barrel
- Martins offers some creditors to pay only 50% of its debt in exchange for being the first to recover
- The price of housing down more than 10% after 14 months of fall and placed in a minimum of three years
- The foreclosure moratorium for the unemployed will cost between 100 and 400 million
- Obama's victory opens the way for a new relationship with Spain
- The march green: Gamesa, I. Renewable, EDF, EDP and Acciona raised on the stock exchange before the new 'President'
- Fagor sacrificed pay extra to pay for retirement
- Solbes: Spain has "exhausted" the scope for anti-measures
- The sale of assets to E. ON of Endesa profit shoots a 243.8%
- Caja Madrid announced the postponement of the banks placers Cibeles
(7 votes, average: 4.14 out of 5) 
Loading ... Written by Droblo on November 5, 2008 with 259 points.
# 1, Carlos Lopez
Interesting question which are made in Cotizalia for veáis that is not so easy to account for assets ...
The chief executive of a big European insurer raised the following question: