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I used think like your diary, about three days ago! But now I'm starting to think that maybe things are falling apart and that something has to be tried to turn the situation, regardless of the small chance of success. The reason I say this is that the disease seems to be spreading to Europe. At least two European banks have been bailed out this past week. And have you seen the euro-dollar rate of exchange. I bought a bunch of euros last week at 1.46 and was happy to get that price. Today it's 1.38 plus. And that's not because the U.S. economy is strong [snark]. Europe's must be quickly heading into the "shitter."

Hey, Grandma Moses started late!
by LEP (rafifoon@yahoo.com) on Thu Oct 2nd, 2008 at 09:39:02 AM EST
yup, berlu told the italians today that the banks were strong and the peeps mustn't worry.

so everyone breathed a sigh of relief...

what else could go wrong?

~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~

by melo (melometa4(at)gmail.com) on Thu Oct 2nd, 2008 at 10:47:19 AM EST
[ Parent ]
See this interview with the president of Generali Insurance posted on Boursroama.
Antoine Bernheim Président de GENERALI     17:46 01/10/08

Anne Fulda - Antoine Bernheim, Bonsoir.

Antoine Bernheim croyez-vous à la solidité du système bancaire français ? Est-il un des plus sûrs du monde comme le dit sur RTL Christian Noyer, le gouverneur de la Banque de France ?

Antoine Bernheim - Je l'espère.

http://www.boursorama.com/forum/message.phtml?file=378084784&pageForum=1

Hey, Grandma Moses started late!

by LEP (rafifoon@yahoo.com) on Thu Oct 2nd, 2008 at 10:57:30 AM EST
[ Parent ]
Note that Anne Fulda is Sarko's interim love story, during Cecilia's first leave of absence to NY.

Generally, Fulda and Bernheim seem to agree to spoil the day for sarko and the gov't, all through the interview.

Pierre

by Pierre on Thu Oct 2nd, 2008 at 11:08:08 AM EST
[ Parent ]
I'm with Jerome on this- I think the European economies will weather this a lot better than most people think.
In the US there's this need to shout, "Well---you're one too!" True, to a point. Time will tell.

Capitalism searches out the darkest corners of human potential, and mainlines them.
by geezer in Paris (risico at wanadoo(flypoop)fr) on Fri Oct 3rd, 2008 at 03:28:14 AM EST
[ Parent ]
The problem is that everything with the financial institutions is covered up. No one knows really what's going on. Everyone talks in generalities, not in specifics.
Next week, if it's not too late, I'm going to withdraw money from my savings (assurance vie) and pay off my house mortgage (even though that will cost me some taxes) on the assumption that the insurance companies may not be able to repay me the week after.

Hey, Grandma Moses started late!
by LEP (rafifoon@yahoo.com) on Fri Oct 3rd, 2008 at 05:20:30 AM EST
[ Parent ]

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