Death Star Economics



In the good old days, things were also bad…

From the ECB press conference yesterday: In December, it offered cheap three-year loans to commercial banks to increase liquidity. And jeez, they did, by almost half a trillion euros (€489.191bn). Mario Draghi said yesterday, another LTRO package (long-term financing operation) is coming in February.

From this morning: Banks have left almost €490bn with the European Central Bank from Thursday to Friday night. That is almost €20bn more than from Wednesday to Thursday, and up from the record high of €464bn that was hit earlier this week. Opting for overnight deposits with the ECB means that banks are willing to lose money [through the low ECB overnight interest rate of 0.25%], instead of lending to each other. Everybody, say credit crunch. read article

Another story from Greece, where, if you run out of financing options, you might want to look into buying a bank and lending to yourselfread article

For Generation Y, my lovely kind, now in their 20s to early 30s [depending on the definition], investing in the stock market is a NO-brainer. As in, they won’t do it – at least according to a study by MFS Investment Management (52% of Gen Yers said they wouldn’t invest in the stock market). Not because Wall Street is evil, but because ever since they (or should I say we?) were old enough to understand what an investment was, things have been rough. [Credit/sovereign debt] Crisis here, [dot-com] bubble there; the economy hasn’t been peachy, and we know, because we checked on our smartphones. read article

According to a study of the University of Texas at Austin, we actually are who we say we are… even online. The study found that general personality traits (conscientiousness, openness, neuroticism, agreeableness, extraversion) are represented in facebook profiles. Granted, this might not hold as hard evidence, but there’s an intriguing thought there, after our parents [and teacher’s] generation warned about the implications of a ‘second’ life online for ages. read article

Finally, Information is Beautiful shows us the difference between a dumb, cool and genius ideaview chart

Have a good weekend.


Filed under: news brief, , , , , , , , , ,

2 Responses

  1. […] Act (SOPA), Fitch has downgraded Italy [and will downgrade 6 other countries shortly], and overnight deposits in the European Central bank rose by another €30bn last night, totaling €528.2bn.Goldman […]

  2. […] while ago, I posted a study from the University of Texas at Austin, finding a high degree of correspondence between Facebook […]

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