Finance

Can Turtles Fly?

This is pretty much the finish of the financial increase of the last 30 years. An increase that was only available in the first 80’s has finally run its course. GaveKal termed it the financial trend which is decided by me has been one. There have been immense benefits–easier usage of credit; capability for public to possess financial instruments; ability of businesses to off-load the financial risk; more efficient hedging of financial risk; therefore on–but all this will decelerate in the future.

It should be pointed out that the change that I’m referring to will occur not just in mortgage fund but in the entire financial sphere. Possibly the best sign of the finish is a phrase that Goldman Sachs–the strongest investment bank or investment company in the world–and Morgan Stanely–another American giant in investment banking–are arranged to become bank or investment company holding companies. Although this does not mean that they’ll turn into a typical bank or investment company, it will mean that the increased regulatory oversight will end their independence.

I anticipate two things out of this. If the most powerful investment bank or investment company, Goldman Sachs, is facing threats–none from it fundamental and all from market conception of the future–then it’s the end of the existing way to do business. Another harbinger of the finish of the financial revolution is the defeating G.E. Whenever a megacap like G.E. 20% in a single week (it retrieved by the finish of the week) it obviously means the market is re-thinking its future.

A lot of people think of G.E. Yet, General Electric is really as much a bank or investment company as a blue-chip industrial company. Half of its earnings result from its giant financing arm, GE Capital, whose global collection spans plane leasing, commercial real property lending, credit cards, and home mortgage loans. 545 billion with debt.

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If it were a bank or investment company, GE Capital would be the nation’s fifth-largest. G.E. relying seriously on financial revenue is not an uncommon case in American industry. Actually, companies like GM and Ford produced a huge chunk of their profits (almost all the profits in a few years) using their auto finance, mortgage fund, and credit cards operations. There is a working joke a couple of years ago that these companies were finance companies and not car manufacturers.

This is less so now, since GM has sold off the majority of its finance divisions yet others have pursued a similar path. Nevertheless, it can be an indication of how influential the financial sector has been on the industry generally. The key point being skipped by some individuals is the realization that one of the primary reasons for the decrease in financial shares is due to the market re-pricing their long-term future. Do remember that I’m discussing America here. The contrary may very well be case in the developing world. There continues to be huge development potential in those countries.

Any white man born into sociable privilege in the United Sates is really as much at fault as any dark man blessed in the disadvantaged ghetto. In other words, neither reaches fault. When blame is leveled on either aspect, the natural response is defense. With this instinctive response comes a denial of responsibility for the “now”. In the portrayed words of Rick Ackerly, “problem back again and responsibility appear looks forward”. Those responsible are no more here but those who find themselves here are now accountable for what they are doing about it.

When the response to racism is prejudice, you merely get more of the same because fear then prevails, and for that both ongoing parties bring responsibility. You may not have started it, nevertheless, you are continuing it. Fear must be met with love (compassion) for this to dissipate. This was shown beautifully by the Director of SC Department of Public Safety, Leroy Smith who as circumstances trooper was on the group control responsibility during a white supremacist rally at removing the Confederate rebel flag. Whilst there, July sun he observed an ailing older white man in the crowd under the unforgiving.