The UK markets opened at 8am today and so do we here at Capitalists@Work. Hope you have all had a nice little break and are fully re-charged to face the interesting times that will be 2009.
If you thought 2008 was interesting, wait until you get a load of next year.
Still, with Christmas cheer still fresh in the memory, let's try not to laugh at those less fortunate:
Here is a story about Ski Chalet owners in Chamonix, ruined by the collapse in the Pound (the one that the Government keeps denying). Poor dear, it appears one man in the story may have to cut his price and only make 100% profit in 7 years. Let's hope the slopes of Chamonix don't give him a bad break.
Then here too is a report on Gold. All the Gold bugs are saying 2009 will be a Golden year. Much as I am one, let's hope not. if Gold rises it means there are massive problems in the world. Today for example, the rise in Gold can be measured in the number of causalities of war. Nice bunch of optimists to hang with those Goldbugs.
Finally, spare a thought for Russia. The crowning glory of Democracy since 1991. Forced to devalue the Ruble yet again as the oil price crashes. Russia has burnt through 33% if its huge reserves of cash in 3 months. We can only hope President Medvedev can pull through and still maintain support to win future elections....
6 comments:
One sharp cookie whose predictions I read two or three years ago said that you shoudn't buy an Aspen ski chalet when its price had fallen from 6 million bucks to four million; wait until it's down to four hundred thousand.
$400,000. I doubt they will ever go that low. uncle Sam will inflate long before....
"Normal Service Resumed"... "Pound hits new low against Euro"...
Three cheers for Austerity Brown!
I do so feel for the Russians and the collapse in oil prices - however will they afford to reconquer their empire!
The Russians got leery on their over-valued energy stocks. Ronald Reagan and Maggie did for their predecessors, what a shame that GW Bush does not have a similar partner today.
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