Mostly original content that examines financial surreality in equity markets in general, and the Japanese Stock Market in particular.
Spanish trade unions
CB - excuse my ignorance about organized labour in Spain, but should they be deposited in "what's left", or dumped into the "Integrity has-been" list? Having been a member in days gone by of the Casino Workers Union (ironic I know!) and a permitted scab under the terms of my B-i-L's Company's contract with the Teamsters, I can tell you that integrity went missing from these unions more than three decades ago.
Perhaps a little too specific, but ... Canadian banks?
Marmite? What's gone wrong with marmite?
What about "my word is my bond..?"...when did that disappear from market morality like the early mist around Mt. Fuji on a summer's morning ?
See Marmite banned in DenmarkAs for Canadian Banks, I would agree, BUT, like Gollem's ring, [temporary] success in banking brings hubris. Word on the street is Canadian banks are on a hiring spree and expanding all over. Their last global expansion into London if I remember correctly coincided with their post 87' implosion due to the last great Canadian property crash. They had so much integrity they were selling office buildings at 30c on the dollar (50% of construction cost) that are undoubtedly worth 10x those puke-prices. And of course now, they will fund new construction at 10x those old prices. Is that your definition of integrity? Should Shilling be right, and deflationary forces win, I think even Canadian banks would be panhandling.
The latter
I was suggesting Canadian banks because of there *perceived* integrity.I think you hit the nail on the head as to the reality!
The building manager at the biggest of the 80's Toronto lemons (O&Y, of course) told me - some time around 1990 - that his 78 storey ward was only 2/3 occupied. So overbuilt with office space was the city that virtually nothing has been added to the stock in the 25 years since the boom ended.All that shiny new stuff you see here is residential. A story in itself, I guess.Who did so well off that crash that they figured that they had nothing to learn was Teachers. Got their comeuppance a couple of years ago.
All rights reserved by the author. The material contained herein is original content and is the sole property of the author. Any commercial use or reproduction - either in part or whole - is strictly forbidden without the author's prior consent
Read Full Article »