[Jewelry making - Article 00687] - Re: [Orchid] Surviving Recession

[leonid surpin]

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>     Depending on who you listen to its either here or near. But you're
>     going to have to deal with it. Some markets will get killed, some
>     will do OK, others will flourish. 

    It is important to understand the roots of current economic
    downturn. I am not an economist, and may be it is my ignorance of the
    subject that cast shadow of negativism on my outlook for the future,
    but I do think we are in for a rough ride. 

    In very general terms, Wall Street boys have been burning midnight
    oil for the last few years, and they come up with a thing which is
    called "derivative". This animal exist under many different 3 and 4
    letter designations. 

    There have been $500,000,000,000,000 or 500 trillion dollars of
    derivatives created by financial Einsteins in recent years. If one
    computes 1 to 2 percent fees from those deals, one can understand
    where their huge bonuses were coming from. 

    Why is it bad ? Under generous estimate, if we could sell planet
    Earth, with everything included, to some aliens, we probably could
    get close to 100 trillion dollars. Where is the rest 400 trillion is
    going to come from ? I have no idea. 

    Can anybody explain this ? 

Leonid Surpin.
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