You must be blind if you haven't noticed the financial mayhem going on in a bank near you during the past few months. I e-mailed my bank yesterday and asked if they please would stop my fund saving as I've been losing about 90% of what I've saved during the past 18 months, only to be phoned up by the bank lady within three minutes, and she urged me to keep the saving going to avoid becoming a "typical" Norwegian who buys on top and sells on the bottom. Ok, well, I didn't want to be a typical Norwegian, did I, and agreed to continue my savings and for unknown future - losing money to big moneydrains in no-mans-land. We discussed it during lunch today - where do the money go? Who gets the money I, you and your grandma loose? Appearantly no-one. Your shares are only worth what people would like to buy them for, and at the moment that's pretty close to zero, zilch, nada, nothing. I logged into my funds account, saw the red numbers that are exceeding a monthly salary and the interesting use of words: "Unrealized loss". Meaning at the moment on paper, heck, yeah, I've lost the money, but in theory this is not a fact until I sell at this ridiculously low price. So all I got to do is wait.
As someone without huge loans this might not be the end of the world, however if you as a Prime Minister have to tell the world that as a country you are bancrupt and up for grabs, I'd call that a lousy start to the week. Monday or not. So, any bidders for Iceland will get a small nation state with blonde girls and plenty of hot springs - maybe something for Richard Branson when he gets sick of his West Indies paradise.
Lurking through the disinspiring newsstories about the world's ragnarok, I suddenly see a small notice on page 22 of the economy section. It's the spokesperson for the "Give us Christmas back"-campaign, which each years combats xmas-marzipan in October and Sunday-openings in Decemeber, who admits defeat. The organisation want Christmas to be about traditions and values, not a spending delight for Mattel, but he says that it is impossible to fight capitalism in a country that year after year breaks new spending records.
Maybe the spokesperson hasn't read the news lately, because as the Dow takes another blow below the belt line plummeting to new lows, I'd say it's your time to shine!
