30 June, 2009

Crisis, which crisis ?

I had the pleasure to recently travel to London. London should be one of the cities in the world most deprived by the current crisis. Shops should be empty, people should be queuing to get some subsidised bread. Not at all. On a bright Sunday afternoon and for the first time in my life, I saw at least 5 cashing machines with people queuing in front to get their money. It was not like 1 of 2 persons queuing, it was a queue of at least 10 to 15 people waiting on average 10 to 15 minutes to get this precious and rare product (ie. pounds). My hypotheses are the following:
  1. they have not credit card any longer and have to pay cash (most improbable)
  2. they are afraid not to get they money from their accounts on Monday because their bank will go bankrupt and have chosen to empty the cash machines instead (it is Monday and nothing seems to have happen so far according to the FR).
  3. it is a new religion (worship of cash, as cash is king will they have heard from their boss).
  4. they need money to spend (is it the return of consumption?). Spend? I thought that we had a crisis.

To top it, I read an article in the Sunday edition of the Times. Headhunters are calling bankers and offering them new jobs, promising to double the highest bonus they have ever received if they accept the offer. These guys will never learn.

I am ready to start the new pyramidal game, just tell me how much, where and when I should invest. You better be in the first row to get out and reach as soon as possible. Starting a ponzy scheme, call me office in New York.

PS: why is this game with three cups where you have to found out where the bean is hidden not allowed, when such games happen everyday in the financial industry?

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