歌曲：出口
歌手：飞轮海
专辑：飞轮海
红着眼你轻轻碰我的手
对不起你喃喃地说
我的难过不只你又伤了我
还有你变得这样擅长认错
叹息沉默加泪水和疲倦
怎么会爱只剩这一些
是不是时间把人变得傻了点
明明有过快乐却忘了怀念
如果我可以不再迷恋
迷恋你在怀中幸福的香味
也许就能够不再有期待
期待你回来约好的未来
我听着你说爱我
感觉却如此寂寞
笑容只维持几秒就变酸了
此刻我只想找一个出口
逃离这混乱荒谬
爱不爱改天再说
我想你真的爱我
但我也真的很痛
不然不会连亲吻都苦苦的
哪里才会有离开你的出口
可是我离开以后
能往哪里走
听着你说好爱我
感觉却不是感动
这一次拥抱以后
还有没有
谁能告诉我
哪里有出口
能让我逃出这个
我快沉没的漩涡
就算真找到出口
能往哪里走
King of the Birds, Lord of the Skies
Gather ye rose buds while ye may, old time is still a flying;
and this same rose that you see today, tomorrow will be dying.
CarpeDiem: Seize the Day!
- Dead Poets Society
Sunday, August 19, 2007
Winner and Losers
A winner says, "There must be a better way to do it".
A loser says, "This is the way it has always been done here".
Unknown
A loser says, "This is the way it has always been done here".
Unknown
Saturday, August 18, 2007
The 11th Husband
A young man married a beautiful woman who had previously divorced 10 husbands. On their wedding night, she told her new husband to "Please be gentle; I'm still a virgin".
"What?" said the puzzled groom. "How can that be if you've been married ten times.?"
"Well, husband#1 was a Sales Representative; he kept telling me how great it was going to be.
"Husband # 2 was in Software Services; he was never really sure how it was suppose to function; but he said he'd look into it and get back with me.
Husband # 3 was from Field Services; he said that everything checked out diagnostically but he just couldn't get the system up.
Husband # 4 was in Telemarketing; even though he knew he had the order, he didn't know when he would be able to deliver.
Husband # 5 was an Engineer, he understood the basic process but he wanted three years to research, implement, and design a new state of the-art method.
Husband #6 was from Administration; he thought he knew how but he wasn't sure whether it was his job or not.
Husband # 7 was in Marketing; although he had a product, he was never sure how to position it.
Husband # 8 was a Psychiatrist; all he did was talk about it.
Husband # 9 was a Gynecologist; all he did was look at it.
Husband # 10 was a Stamp Collector; all he ever did was........ God I miss him.
But now that I've married you, I'm so excited".
"Wonderful", said the husband, "but why?"
"Your're with the "GOVERNMENT".. This time I KNOW I'M gonna get SCREWED."
"What?" said the puzzled groom. "How can that be if you've been married ten times.?"
"Well, husband#1 was a Sales Representative; he kept telling me how great it was going to be.
"Husband # 2 was in Software Services; he was never really sure how it was suppose to function; but he said he'd look into it and get back with me.
Husband # 3 was from Field Services; he said that everything checked out diagnostically but he just couldn't get the system up.
Husband # 4 was in Telemarketing; even though he knew he had the order, he didn't know when he would be able to deliver.
Husband # 5 was an Engineer, he understood the basic process but he wanted three years to research, implement, and design a new state of the-art method.
Husband #6 was from Administration; he thought he knew how but he wasn't sure whether it was his job or not.
Husband # 7 was in Marketing; although he had a product, he was never sure how to position it.
Husband # 8 was a Psychiatrist; all he did was talk about it.
Husband # 9 was a Gynecologist; all he did was look at it.
Husband # 10 was a Stamp Collector; all he ever did was........ God I miss him.
But now that I've married you, I'm so excited".
"Wonderful", said the husband, "but why?"
"Your're with the "GOVERNMENT".. This time I KNOW I'M gonna get SCREWED."
Markets Rally on Fed Rate Cut
After a volatile morning yesterday, European markets received a lunchtime boost from the surprise decision by the US Federal Reserve to cut the discount rate by 50 basis points to 5.75%.
In London, the FTSE 100 rebounded over 3% following the announcement and was 205 points higher at 6,064 by Friday's close. Elsewhere in Europe, the Frankfurt DAX-30 climbed 108 points to end the day at 7,378 and the Paris CAC-40 closed 98 points higher at 5,363.
On Wall Street, stocks staged their biggest rally in four years. The Dow Jones opened nearly 300 points higher, at 13,127, and there were steep gains on the S&P 500 and Nasdaq!
Dangers to economic growth
The Fed cited the dangers posed to economic growth from deteriorating financial market conditions and tighter credit.
The discount rate – which applies to loans to commercial banks from regional Federal Reserve lending facilities – is separate from the federal funds rate, which remains at 5.25%. The move provides a short-term solution to the liquidity crisis currently facing financial institutions and will remain effective, said the bank, until the situation improves.
Oil and gold up, dollar down
In the commodities markets, the oil price jumped as investor concerns over slowing economic growth subsided. Crude futures were almost 2% higher at $72.33 in New York and Brent spot had risen to $69.54 in London.
Copper also ended its three-day losing streak. Copper for delivery in three months jumped over 4% to $7,020 a tonne on the London metals exchange. Fellow metals gold and silver were also firmer today as the dollar fell.
Sterling had risen as high as 1.9935 against the dollar and was also up against both the euro and the yen.
Over the next few entries, I will attempt to explain what exactly the Fed is doing and its implication to the financial market at large. It should be interesting. Stay tuned!
In London, the FTSE 100 rebounded over 3% following the announcement and was 205 points higher at 6,064 by Friday's close. Elsewhere in Europe, the Frankfurt DAX-30 climbed 108 points to end the day at 7,378 and the Paris CAC-40 closed 98 points higher at 5,363.
On Wall Street, stocks staged their biggest rally in four years. The Dow Jones opened nearly 300 points higher, at 13,127, and there were steep gains on the S&P 500 and Nasdaq!
Dangers to economic growth
The Fed cited the dangers posed to economic growth from deteriorating financial market conditions and tighter credit.
The discount rate – which applies to loans to commercial banks from regional Federal Reserve lending facilities – is separate from the federal funds rate, which remains at 5.25%. The move provides a short-term solution to the liquidity crisis currently facing financial institutions and will remain effective, said the bank, until the situation improves.
Oil and gold up, dollar down
In the commodities markets, the oil price jumped as investor concerns over slowing economic growth subsided. Crude futures were almost 2% higher at $72.33 in New York and Brent spot had risen to $69.54 in London.
Copper also ended its three-day losing streak. Copper for delivery in three months jumped over 4% to $7,020 a tonne on the London metals exchange. Fellow metals gold and silver were also firmer today as the dollar fell.
Sterling had risen as high as 1.9935 against the dollar and was also up against both the euro and the yen.
Over the next few entries, I will attempt to explain what exactly the Fed is doing and its implication to the financial market at large. It should be interesting. Stay tuned!
Atlas...Not All Are Called to Teach.
The mediocre teacher tells.
The good teacher explains.
The superior teacher demonstrates.
The great teacher inspires.
William Arthur Ward
The good teacher explains.
The superior teacher demonstrates.
The great teacher inspires.
William Arthur Ward
Friday, August 17, 2007
Hot from the Oven - Fed Cut Rate!!!
Release Date: August 17, 2007
For immediate release
To promote the restoration of orderly conditions in financial markets, the Federal Reserve Board approved temporary changes to its primary credit discount window facility. The Board approved a 50 basis point reduction in the primary credit rate to 5-3/4 percent, to narrow the spread between the primary credit rate and the Federal Open Market Committee's target federal funds rate to 50 basis points. The Board is also announcing a change to the Reserve Banks' usual practices to allow the provision of term financing for as long as 30 days, renewable by the borrower. These changes will remain in place until the Federal Reserve determines that market liquidity has improved materially. These changes are designed to provide depositories with greater assurance about the cost and availability of funding. The Federal Reserve will continue to accept a broad range of collateral for discount window loans, including home mortgages and related assets. Existing collateral margins will be maintained. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York and San Francisco.
For immediate release
To promote the restoration of orderly conditions in financial markets, the Federal Reserve Board approved temporary changes to its primary credit discount window facility. The Board approved a 50 basis point reduction in the primary credit rate to 5-3/4 percent, to narrow the spread between the primary credit rate and the Federal Open Market Committee's target federal funds rate to 50 basis points. The Board is also announcing a change to the Reserve Banks' usual practices to allow the provision of term financing for as long as 30 days, renewable by the borrower. These changes will remain in place until the Federal Reserve determines that market liquidity has improved materially. These changes are designed to provide depositories with greater assurance about the cost and availability of funding. The Federal Reserve will continue to accept a broad range of collateral for discount window loans, including home mortgages and related assets. Existing collateral margins will be maintained. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York and San Francisco.
Too Much...Simple Anatomy of a MeltDown!
We are in the midst of a financial crisis. This is Not a correction; Not a downturn. Not a slump. Not a blip. I think this is a full-blown meltdown. And the causes? Too much….
Too much housing speculation:
The Federal Reserve pumped the economy full of easy money after the tech bubble burst. That money found its way into the housing market, fueling a speculative bubble like no other in modern U.S. history. Now that bubble is popping, too … and the fallout is spreading throughout the financial markets.
Too much stupid lending:
Residential mortgage lenders gave loans to any moron with 2 legs during the boom. Now, delinquencies & foreclosures are surging, & so are loan losses. Stupid lending wasn't confined to home mortgages, either. The commercial mortgage & leveraged buyout markets have seen their fair share of excesses. Concern over these higher-risk loans is now hammering Wall Street.
Too much financial leverage:
Hedge funds, Wall Street firms, everyday speculators — they all borrowed huge amounts of money to boost returns. But what happens when the investments head south? All that leverage enhances LOSSES.
So, in a nutshell, reckless investors, lenders, & borrowers gambled with easy money & lost. The result is the unfolding meltdown you're seeing in the corporate bond market … the mortgage bond market … the stock market … virtually everywhere. It's not pleasant. It's not fun. And, from everything I see, it's not over. But you shouldn't be surprised by any of this.
The tell-tale signs of financial panic began weeks ago. Since then, I'm sad to say, things have only deteriorated further. Almost every single day, we learn of another mortgage company facing funding problems or another lending market getting roiled.
For example, you heard of Countrywide? Actually I just got to knw about this company recently. Countrywide Financial (CFC) is the largest mortgage lender in the U.S.. She recently experienced a bout of funding turmoil. The company reportedly had trouble selling a form of short-term debt called commercial paper. It tapped into an $11.5 billion credit line to raise money instead.
Countrywide's bond holders are worried about a potential default. I can see why: Fitch Ratings & Moody's Investors Service both cut Countrywide's credit ratings. And one Merrill Lynch analyst went so far as to say the lender could be forced into bankruptcy. The stock has plunged as a result, leaving it down about 55% year-to-date!
Meanwhile, a Canadian firm called Coventree Inc. announced that the market turmoil has prevented it from selling asset-backed commercial paper (ABCP). This ABCP is a form of short-term debt backed by things like car loans, credit card receivables, & mortgages. Problem is, the company is the biggest non-bank issuer of this kind of paper in Canada, & it needed more than $700 million in emergency funds because of the problems. Other firms — at least 16 according to Canadian ratings company DBRS — are having similar issues. That's a sign of a real liquidity freeze!
Now, elsewhere, the London Interbank Offered Rate (LIBOR) just surged to its highest level since 1998. This kind of move indicates that banks are scared to lend each other money even on a very short-term basis.
At the same time, yields on three-month U.S. Treasury bills plunged almost three-quarters of a percentage point (72 basis points) at one point yesterday. That was the largest decline in any one day since the stock market crashed in October 1987! Even in the immediate aftermath of the 9/11 terrorist attacks, yields fell only 39 basis points. That means the financial panic we're seeing now is even worse than we saw in September 2001!
Clearly, the housing market is still slumping. The National Association of Home Builders just released its latest monthly survey of builder sentiment. The overall index sank to 22 in August from 24 in July. That was below the 23 expected by analysts & the worst reading in any month since January 1991, when the index touched an all-time low of 20.
I think we're in for a 1998-style rout … and that means further declines are likely. But then again, I could be wrong. I sometimes can and will. So do your own research. Bottom line: These are dangerous times — and you should take steps to protect yourself.
Too much housing speculation:
The Federal Reserve pumped the economy full of easy money after the tech bubble burst. That money found its way into the housing market, fueling a speculative bubble like no other in modern U.S. history. Now that bubble is popping, too … and the fallout is spreading throughout the financial markets.
Too much stupid lending:
Residential mortgage lenders gave loans to any moron with 2 legs during the boom. Now, delinquencies & foreclosures are surging, & so are loan losses. Stupid lending wasn't confined to home mortgages, either. The commercial mortgage & leveraged buyout markets have seen their fair share of excesses. Concern over these higher-risk loans is now hammering Wall Street.
Too much financial leverage:
Hedge funds, Wall Street firms, everyday speculators — they all borrowed huge amounts of money to boost returns. But what happens when the investments head south? All that leverage enhances LOSSES.
So, in a nutshell, reckless investors, lenders, & borrowers gambled with easy money & lost. The result is the unfolding meltdown you're seeing in the corporate bond market … the mortgage bond market … the stock market … virtually everywhere. It's not pleasant. It's not fun. And, from everything I see, it's not over. But you shouldn't be surprised by any of this.
The tell-tale signs of financial panic began weeks ago. Since then, I'm sad to say, things have only deteriorated further. Almost every single day, we learn of another mortgage company facing funding problems or another lending market getting roiled.
For example, you heard of Countrywide? Actually I just got to knw about this company recently. Countrywide Financial (CFC) is the largest mortgage lender in the U.S.. She recently experienced a bout of funding turmoil. The company reportedly had trouble selling a form of short-term debt called commercial paper. It tapped into an $11.5 billion credit line to raise money instead.
Countrywide's bond holders are worried about a potential default. I can see why: Fitch Ratings & Moody's Investors Service both cut Countrywide's credit ratings. And one Merrill Lynch analyst went so far as to say the lender could be forced into bankruptcy. The stock has plunged as a result, leaving it down about 55% year-to-date!
Meanwhile, a Canadian firm called Coventree Inc. announced that the market turmoil has prevented it from selling asset-backed commercial paper (ABCP). This ABCP is a form of short-term debt backed by things like car loans, credit card receivables, & mortgages. Problem is, the company is the biggest non-bank issuer of this kind of paper in Canada, & it needed more than $700 million in emergency funds because of the problems. Other firms — at least 16 according to Canadian ratings company DBRS — are having similar issues. That's a sign of a real liquidity freeze!
Now, elsewhere, the London Interbank Offered Rate (LIBOR) just surged to its highest level since 1998. This kind of move indicates that banks are scared to lend each other money even on a very short-term basis.
At the same time, yields on three-month U.S. Treasury bills plunged almost three-quarters of a percentage point (72 basis points) at one point yesterday. That was the largest decline in any one day since the stock market crashed in October 1987! Even in the immediate aftermath of the 9/11 terrorist attacks, yields fell only 39 basis points. That means the financial panic we're seeing now is even worse than we saw in September 2001!
Clearly, the housing market is still slumping. The National Association of Home Builders just released its latest monthly survey of builder sentiment. The overall index sank to 22 in August from 24 in July. That was below the 23 expected by analysts & the worst reading in any month since January 1991, when the index touched an all-time low of 20.
I think we're in for a 1998-style rout … and that means further declines are likely. But then again, I could be wrong. I sometimes can and will. So do your own research. Bottom line: These are dangerous times — and you should take steps to protect yourself.
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