Tuesday, December 30, 2008
Monday, December 29, 2008
Here is an excellent article on global central bank attempts to create liquidity, and why it is largely an illusion of liquidity. Delusions of reserve grandeur? Great article by Satyajit Das!
Click here for the entire article.
In recent years, there has been speculation about the amount of capital or liquidity available for investment globally. The substantial reserves of central banks and their acolytes, sovereign wealth funds, were frequently cited in support of the case for a large pool of "unleveraged" liquidity − that is, "real" money. In reality, the available pool of money may be more modest than assumed.
Here is a Bloomberg article: Holiday Sales Slump to Force Store Closings, Bankruptcies
U.S. retailers face a wave of store closings, bankruptcies and takeovers
starting next month as holiday sales are shaping up to be the worst in 40 years.