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October 07, 2008


Tom Freeman

"Stock markets...are like the Large Hadron Collider. They might be expensive, but they are interesting. "

And they can risk destroying the world.


Actually, Chris, what is being played out is a gigantic game of Chicken. The cost of capital at the moment is sky high - so everyone hopes to get it cheaper from the Government. The Fed's commercial paper facility effectively is the Fed blinking - everyone else says its too risky, so the Fed has to do it to keep the wheels working. But if they hadn't stepped in, yes there would have been a few weeks of hiatus, and afterwards it would all have been wrokign perfectly.
Of course, in Icelands case noone realised that was what they were doing....


erm - large hadron colliders may be well cheaper!

Personally I've dug a hole in my garden and buried some gold there. Its probably the safest investment at the moment.


You've only been laughing at Newcastle for six months?

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