Here’s the IMF’s timely Global Financial Stability Report -Financial Stress and Deleveraging Macro-Financial Implications and Policy. And their media release warning about a failure to act decisively. This attitude may well be destructive given that the whole nature of the financial system must change fundamentally. Knee jerk reactions tend to be unproductive. This can be …
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Day:8 October 2008
Biomimicry wins Nobel prize
Biomimicry involves emulating nature in technology. A clever trick borrowed from jellyfish has earned two Americans and one Japanese scientist a share of the chemistry Nobel Prize. Read the report here.
New investing lingo
A fun email circulating trading desks, worthwhile as an informal measure of sentiment: CEO –Chief Embezzlement Officer. CFO– Corporate Fraud Officer. BULL MARKET — A random market movement causing an investor to mistake himself for a financial genius. BEAR MARKET — A 6 to 18 month period when the kids get no allowance, the wife …
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Interest rates cut in desperation …
Six central banks have cut their interest rates by half a percentage point. The US Federal Reserve has cut rates from 2% to 1.5% and the European Central Bank (ECB) trimmed its rate from 4.25% to 3.75%. The UK trimmed the interest rate to 4.5% from 5%. The central banks of Canada and Sweden …
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Evolution is over and we’re living in Utopia.
An interesting perspective on how evolution of humans has ended: genetic mutations have declined, natural selection has been extinguished (by medicine and philanthropy) and may be being reversed, and biological differentiation has diminidhed by the density of humanity on the planet. Read Evolution is complete: so where do we go from here? from yesterday’s Telegraph.