eclectic imaging
Economy Horror Picture Show
Posted by MadScientist (Düsseldorf, Germany) on 12 October 2008 in Architecture.
Some data taken from the Global Financial Stability Report that was published some days ago:
The U.S. Loan Charge-Off Rates chart shows that the bulk of write-offs for any loan type will reach US banks (and probably European banks too) not until Q1 2009.
The chart Macroeconomic and Corporate Indicators and Default Rates demonstrates that (unlikely to the dot-com bust) we're only at the beginning of an unpleasant development.
The diagram Bank Writedowns and Capital Raised points to difficulties in having a rapid recovery: banks are lacking own capital, Europe (right graphics) seems to be affected similarly. That means: no fresh money.
No wonder the recent crisis already gets a high score in the Comparison of Financial Crises.
American households lost their economic power, their net equity is negative - as you can see in the diagram U.S. Households’ Balance Sheets.
Gory details are shown in Total Assets on Federal Reserve’s Balance Sheet. A wondrous increase of assets!
And finally: if you would please save me a place in the soup kitchen line; our government plans to 'rescue' our banks with a 400 billion Euros (ca. 600 billion US dollars) injection. That means funny money in our wallets within five years. (via)
(Image: Bays in the southern transept of Cologne Cathedral. A bit grainy, I know, just checking my new camera. I don't have a compatible remote control for my camera yet; hence slightly imperfect symmetry, as I've shot 'from the hip'.)
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Canon EOS 40D
1/100 second
F/7.1
ISO 3200
10 mm